Jones Day, Dechert Deny They Owe Coudert Partner Profits

Law360, Los Angeles (July 10, 2013, 4:14 PM EDT) -- Jones Day and Dechert LLP told the Second Circuit on Tuesday they didn't owe Coudert Brothers LLP any profits for handling client matters pending on the bankrupt firm's dissolution date, because New York state law doesn't give Coudert property rights over the matters.

While Coudert's former partners worked on the unfinished matters when they joined Jones Day and Dechert, the matters were no longer Coudert's business, since they were billed on an hourly basis and the clients chose new representation, the successor firms argued in separate...
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