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Reply to "Law firms now demoting partners . "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is not new. And yes, if it's really to non-equity they will get their capital back. There are some firms with partial equity tiers where they might only get a portion of capital back now. [/quote] The question isn't just if they get their capital, it's when. Most firms have partnership agreements that allow them to repay capital over a ridiculously long period of time. And if a partner is de-equitized for performance reasons, s/he isn't always eligible for the return of all his/her capital. --Senior associate[/quote] It is more and more common for firms to delay return of capital for partners jumping to other firms. But I'd be surprised if firms played games with returning capital to de-equitized partners.[/quote] Lol. You're an optimist, aren't you? Do you know any de-equitized partners? I do. --Senior associate [/quote] Well, you are clearly all knowing since you are "Senior Associate." I am sure heaps of de-equitized partners are pouring out their souls to "Senior Associate" and other partners are giving "Senior Associate" a copy of the partnership for his perusal.[/quote] Lol. First, I'm not male, you ignorant dummy. Second, this post makes obvious that you're either not in big law or very junior on the rung. I'm always amused when people like you talk as if partnership is a mafia complete with omerta. Of course, partners talk and disclose their agreements to close friends. I count both income and equity partners at my firm and other firms as friends. I know what many of them are making down to the penny, hence how I have decided this isn't for me. I also know partners who have been de-equitized and there are several bases on which firms can and have screwed them out of full return of capital. Imagine that! Bet Above the Law didn't tell you that.[/quote] Forgive me. I assumed that anyone pompous enough to believe referring to him/herself as "Senior Associate" conveyed some gravitas and authority would be male. But you are right. Females can be self-important a-holes as well. As for me, I am at Wilson Elser so I most certainly am in Biglaw.[/quote]
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