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Former Chair of defunct law firm Dewey & LeBoeuf, Steven Davis, has become the legal adviser to the government of a state of the United Arab Emirates. This has been explicitly mentioned in a memo signed on 8 December by Salem Ali Al Sharhan, Executive Committee Chairman of the Ras al Khaimah's Investment and Development Office (IDO).
As per the internal government memo, Davis will assume the role of Chief Executive Officer (CEO) of the IDO. Davis has been a leading practitioner in the energy field and his joining an oil country's legal advisor team fits in with his capabilities. In his capacity as the CEO, he will be responsible for establishing and overseeing the legal affairs department for the government of Ras al Khaimah within the IDO.
Earlier, Davis had been in news for certain unethical practices. The energy lawyer was held responsible for being instrumental in the mismanagement of Dewey & LeBoeuf and its eventual collapse.
Dewey was one of the largest and most profitable law firms in the U.S. The law firm formed in 2007 through the merger of Dewey Ballantine and LeBoeuf Lamb Greene & MacRae served as lead adviser on high profile matters like bankruptcy and sale of the Los Angeles Dodgers. In May 2012, it was declared as the largest law firm to file for bankruptcy in the history of the U.S. Davis was blamed by his Dewey colleagues for giving huge salaries to certain top-ranking partners and allegedly lying about the financial standing of the firm which eventually led to its bankruptcy in May 2012.
Davis agreed to pay $511,145 in April 2012 as part of a settlement releasing him from mismanagement claims by the trustee of the Dewey estate and had kept out of the public eye since then. However, he was subject to an investigation by the Manhattan district attorney's office a year later, which brought him back to the limelight. A group of Dewy partners triggered this new investigation by presenting evidence about the alleged financial improprieties by Davis to the district attorney. Although Davis categorically denied any wrongdoing, the investigation is still ongoing. Davis had not taken up a position at any firm after Dewey ousted him. The new position is expected to be quite a change of scene, climatically and otherwise, for the New Yorker. Although Ras al Khaimah lacks the mineral wealth of Abu Dhabi and Dubai, it has the world's largest ceramics companies. In addition, it is known to have invested in development projects in Georgia, a country in the Caucasus region.
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