(If you don't work in foreclosures or REO, or aren't a complete mortgage geek, this post probably won't mean much to you, so I'll offer up this link to the Implode-o-Meter to pass the time while those who know who the Georgia-based law firm of McCalla Raymer is take time to read this post.) I saw a press release this evening from a bunch of attorneys that were (formerly?) at Georgia creditors' rights legal giant McCalla Raymer, announcing a new firm called Dickenson Gilroy LLC, staffed with 15 (former?) McCalla attorneys and 80 of the law firm's (again, former?) support staff. I've read and re-read the release, and can't make head or tails over what's going on with the folks over at McCalla -- granted, the default industry in general is rather wild and wooly, but this takes has to take the cake for strange business arrangements. Some puzzling samples from the release:
"Opening DG Law is a natural progression for us," said Jennifer Dickenson. Making an interesting historical observation Ms. Dickenson noted that the senior leadership of their former firm transitioned from the old line Atlanta firm, Hansell Post, on May 1, 1982 -- exactly 25 years ago today. "Given our heritage, and the group of attorneys who joined DG Law, we truly see ourselves as being in the forefront of real estate and litigation law in metro Atlanta and Georgia from Day One," said Monica Gilroy.
I'd be inclined to think the attorneys left McCalla to start their own firm, except to note that the firm's attorneys include none other than the founding partners of McCalla Raymer (who are serving "of counsel"). So what gives here? The only thing I can think of is that McCalla performed a "soft" acquisition of these two attorneys in private practice and didn't roll them into their parent firm for some reason. Anyone with some thoughts, on this -- please, do share.