Coudert partners lose $350,000
Just over a year ago Coudert Bros, one of the US's oldest firms, disappeared up its own fundament after its partners voted for dissolution.
But if they thought parting would be painless, they were very wrong. Rumours are circulating that all Coudert's former partners were notified this week that they would not be getting any of their capital back - which in some cases amounts to $350,000. So any anniversary celebrations are probably off then.
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A former Coudert Bros partner yesterday | |
It is proof, if proof be need be, that partnership can be a risky business. Whilst you may be raking the money in when times are good, $350,000 is a lot to pay for bad management.