Firm Leaders Want In-Person Retreats This Year | Why Some Mergers Fail at the 11th Hour | Franchisor Sued Over 'Unreasonable' Demands During COVID: The Morning Minute
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January 11, 2021 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
HASTY RETREAT? - Will 2021 allow law firms the opportunity to bring their lawyers back together for teambuilding exercises without having to worry about WiFi outages and frozen screens? It's too soon to tell, but a firm leader can dream, can't they? And, according to a new report by Law.com's Patrick Smith, many of them are indeed dreaming of holding in-person retreats this year, spurred by the belief that there are tangible benefits in having lawyers meet face-to-face and the acknowledgment that "Zoom fatigue" is real. "I would love to get back in person," said Kim Koopersmith, chairwoman of Akin Gump Strauss Hauer & Feld. "If the vaccine is rolled out, the earliest we can do this, we will. It is such a meaningful event for the firm. I am a committed partner retreat person, but it has to be safe." Koopersmith was far from alone in that sentiment, though not everyone shared her optimism. "I would love to have an in-person retreat, but I feel like that probably isn't going to be realistic," said Bob Bodian, managing partner at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.
LET'S CALL THE WHOLE THING OFF - Unlike with celebrity couples, it's not every day that law firms call off their engagement just as they're about to say "I do." But it does happen. For example, while the last-minute cancellation of a merger between Nelson Mullins and Redgrave was "odd," legal analysts told Law.com's Andrew Maloney that conflicts are often deal killers, even when tie-ups appear final. The fact that a client conflict torpedoed the Nelson Mullins-Redgrave deal at such a late stage, however, did make that situation stand out a bit more. But Redgrave managing partner Jonathan Redgrave told Maloney that the conflict in question did not arise at the 11th hour. Instead, it simply evolved during the course of the negotiations and ultimately made the deal unworkable, he said.
MANIACAL DEMANDS? - The trend of what we'll call "post-pandemic switcheroo" contract litigation has continued into 2021. K&L Gates sued Israeli apparel business Or Mania Ltd. on Friday in Florida Southern District Court on behalf of several individuals and businesses involved in franchising Mania Jeans and Noizz by Mania retail stores in the U.S. The complaint alleges that Mania Israel failed to provide support or training for the store openings in early 2020 and proceeded to make unreasonable demands amid the COVID-19 pandemic, including changing its credit line arrangement with franchisees to require upfront payment for all inventory as well as about $310,000 for inventory that had been previously provided. Counsel have not yet appeared for the defendants. The case is 0:21-cv-60054, Mania Premium Outlet International Dr. LLC et al v. OR Mania USA, Inc. et al. Stay up on the latest litigation with the new Law.com Radar.
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