A Fool For A Client

by Shawn Thompson

  I needed to set the tone now, make sure Quincy's ideals governed the new L&P. "Quincy didn't believe in retainers. The firm's paid after it performs the work."

  "Times change, Hobie. No firm can survive without the cash flow advantages of a retainer. Get the money. Then worry about billing hours to use it up. That's easy enough to do with a bunch of associates out researching esoteric problems. And the Mills litigation is going to a gold mine in legal fees."

  I felt as though I'd been sucker punched. No matter how much I want the rot at L&P to end, it kept growing. The time had arrived to end the rot once and for ever. "I won't, Robert. That type of thinking is over. Under my leadership, the firm earns its fees. It doesn't expect a free ride."

  "Hobie, this is no time for idealism. If we don't get a million dollars, the bank's going to start bankruptcy proceedings. That happens and the firm ends?"

  I didn't hesitate. "We can beat them to the punch. We can file for Chapter 11 reorganization first. With some hard work and negotiations, we can emerge stronger than ever. It won't be an ending, it'll be the beginning of the return to Quincy's principles."

  "Goddamn you, Hobie. We need the one million. Not some convoluted Chapter 11 proceeding."

  "You want me, you go along with what I say."

  During the pause I could hear Robert swallow and his Adam's apple bob. "You don't leave me any choice. The bank's frigging lawyer wrote the cross defaults so tightly that if we don't pay you the non-compete amounts, we'll be in immediate default. I don't have any choice. You walk and the firm's history. Imperial will take me for every penny I have."

  *

  "Keiko, I almost dropped the phone. Robert didn't care about a return to Quincy's principles. All he cared about was saving his personal assets from a Chapter 7 bankruptcy.

  "When I told him to forget it, he went berserk. He even told me that he's convinced you weren't abducted. He thinks you ran away with Brad and knew where the money went. He threatened that if he's ever able to connect you or me with Brad's embezzlement, he'll personally make sure he destroys me. I told him to go diddle himself. It's a good thing he wasn't talking to me in person because I would have punched his lights out."

  Keiko's tilted her head. "I've told you repeatedly that Robert's only interest is his own. I don't know why that's such a surprise to you. But what's the difference is there between Chapter 11 and a Chapter 7? They're bankrupt in any case, right?"

  "Yeah. But in a Chapter 11 the purpose is to restructure the firm's debt so it remains in existence. In a Chapter 7 the firm goes out of existence. The court appoints a trustee to collect what assets the firm has and to pay its creditors. Unfortunately, with a partnership and Imperial Bank's refusal to waive liability in the credit agreements, all general partners are liable for all of the firm's debts. Robert's assets could be grabbed by the firm's creditors."

  Keiko raised her eyebrows. "Aren't you afraid they could reach your assets? You were a partner until a few weeks ago."

  "Yeah, they probably could take my assets in a worse case scenario. But, you know, I don't care. I lost you. I'll never see my son. What's the loss of money after that?"

  A tear trickled out of the corner of Keiko's eye. "That's why I love you. You know what's important."

  "I hope you still love me after I tell you what I've decided to do."

  "You know I will."

  "The firm's creditors can have everything I own. I'm moving to Honolulu, starting anew. I'll tell Judge Rykoff that won't violate the non-compete. I'm going to be an island lawyer."

  Keiko's eyes widened. "Hawaii?"

  "Yeah. When I was an associate, Quincy had me take the Hawaii bar exam and get admitted to the Hawaii bar. Even back then Eloise's relatives were constantly bringing suits in Hawaii courts. Quincy figured that if I was admitted, then we didn't have the expense and inconvenience of needing to hire local counsel in Hawaii. I'm still a member of the Hawaii bar and with Eloise's case I'd have to spend a lot of time there anyway. I decided it would be a perfect place to start afresh."

  Keiko smiled widely. "I assume I'm invited."

  "I wouldn't, couldn't, do it without you."

  ###