Log in
     
Bruce's 2012 Lament E-mail
 
Bruce Bennett
was dubbed the 'Artful Dodger' by The New York Times. But we believe he will be best known for downward spiral of employment peculiarities, quite a list of requisite pre-retention interview topics for any fiduciary to digest, indeed.
Bruce Bennett's Downward Spiral

Among this list of neo-explanable oddnesses shines Bruce's "insidious campaign to corrupt the administration" of the SONICblue bankruptcy case. Millions of legal fees where lost along with tens of millions of client forfeitures. In light of the secretive curtain of legal industry "self-regulation" it is difficult to speculate on which factor may have been primary or conclusive in the ultimate implosion of the law firm Mr. Bennett co-founded : Hennigan Bennett & Dorman. Whether it was SONICblue, Aureal, or another hedge fund conflict issue mushroom bloom which doomed Bruce's firm we can not be sure. However, here in the early Fall of 2013 we can be sure of two things:
  1. Bruce Bennett chose to join forces with a national law firm with a dirty secret: financial fraud by and within the firm amidst secret compensation schemes among the partners, and a track record of violations of client best interest and conflict of interest. Like the firm he founded, Mr. Bennett's next firm crashed and burned. If the pairing of Mr. Bennett and Dewey LeBoeuf, or the firms closely followed implosion, had been in any way ironic, BankruptcyMisconduct would have been sure to mention as much.

  2. Jones Day boldy cast itself as the next stop on the 'ill-lustrious' career of Mr. Bennett hiring his team on the heals of Dewey LeBoeuf's demise. Seemingly a sick parody of that firm's decision to join at the hip on the heals of HBD's implosion. BankruptcyMisconduct believes that Jones Day may achieve national name recognition because of this "brilliant" move, and the firm may likely come to regret the same.

___________________________________
Bruce's 2012 Lament:

frying pan escape

genius implodes his namesake
brighter days ahead

Groucho had it right
don't join those who would invite
you as a member

big fee guarantee
prudent thinking rushed in haste
too good to be true

Sun before the storm
Brooklyn's boy scores the Dodgers
money rolling in

partners leaving debt
the unsinkable now floods
genius dazed by greed

preference claw back
sucks to be an insider
bye bye two years fees

law firm claw forward
case law says fees to Dewey
Karmic SONIC blues

implode number two
stupid is what genius does
Clinton feels your pain

___________________________________



Bingham McCuthcen, Funeral for a Friend ?

Well it seems the big Dodgers thing is deeper, and more interesting. Apparently the original owner of the Dodgers - Frank McCourt - has a really big claim that will be teed up against Bingham McCutchen because the pre marital agreement they poorly wrote for their client Frank vis a vis Jamie was ruled invalid in court. You see, the Dodgers filed for bankruptcy because of this screw up surfacing as the McCourts were getting divorced. Now let's just speculate:

What if, and we're only saying if ... But what if Bingham McCuthcen had a fiduciary obligation to an estate at some time in the past - and they failed both their obligation to their beneficiaries, as well as their obligations under the rules of their own State Bar, to oppose misconduct by Bruce Bennett Bankruptcy team? Yes, Bruce Bennett's team has crossed paths, so to speak, with Bingham McCutchen. While there are academics who believe that attorney self regulation is a joke, BankruptcyMisconduct sees the peculiar artifice as the possible Achilles Heel which ultimately causes self serving corruption in the legal industry to implode upon itself. Eventually, there will be a force sweeping the nation to resolve the current economic web of malfeasance and corruption. There will be a time when wrongs are addressed. And fraud upon the court already has no statute of limitation.

So what if Bingham McCutchen, for whatever reasons, straddled the rules to do a mitzvah for Bruce and gang?

Fast forward to the present, we have an apparent "mishap" by Bingham resulting in Bennett et al. raking in a bundle of fees on the Dodgers case. Bingham's "mistake" makes money for Bennett et al... Wouldn't it be a quid pro quo for Bennett to accept those fees on the Dodgers case, but then somehow poison the well for Frank McCourt's future battle against Bingham? Or on the other hand, would Bennett go out of his way to help McCourt take Bingham to the cleaners, possibly to the point of collapse, in order just to remove all doubt about his loyalties and liabilities. It's very interesting - the whole Dodgers web of interconnections is ripe for discussion. This will probably need its own page or so on BankruptcyMisconduct.

Arguably, if all the fees from the massive Dodgers case are ultimately is marshalled to the Dewey LeBoeuf creditors, instead of Bennett and gang personally, then it's not Bennett who should be grateful to Bingham. It would be the old line partners at Dewey LeBoeuf for having successfully passed the hot potato of liabilities upon the Bennett Bankruptcy Team to work on, like a chain gang in Mississippi but with suits and shattered ancitipations. We just don't know yet.

Anyway, we are sure that Bruce Bennett and his team learned their lessons about their needs to obtain fully informed conflict of interest waivers from all parties in a case with which they had a financial relationship. Especially after SONICblue.

Do illicit relationships count? Of course they, like when the IRS goes after pot growers. But we really shouldn't question whether a false declaration in the Dodgers case could reverse those massive fees. Did we mention that a fraud upon the court has no statute of limitations? Sure, it would be quite the end of a movie documentary if Bruce and his team lost personally all of their negotiated share of the Dodgers fees to Dewey LeBoeuf creditors. But surely having all of those fees go instead back to Frank & Jamie McCourt under the disgorgement provisions of title 11 would delight Americans even more, given how much love we all have for baseball.


More Coming Soon!
Like maybe a graphic... You think?


Bruce Bennett abandoned the firm he founded