A group of former Howrey LLP equity partners have agreed to pay the firm’s Chapter 11 trustee nearly $1.5 million, marking the second major deal on clawback claims in the bankruptcy and bringing the Howrey estate closer to offering up a liquidation plan.
A California bankruptcy judge on Tuesday largely upheld the Howrey LLP trustee's demands for roughly $20 million in billings that former partners earned from taking Howrey clients to new firms, a break from recent rulings in New York and California that silenced so-called unfinished-business litigation.
A California federal judge has refused to allow Haynes and Boone LLP from pursuing a declaratory action against Howrey LLP over its attempt to collect profits from work Haynes and Boone inherited when it hired one of the collapsed law firm's former partners.
Jones Day, Perkins Coie LLP and several other firms urged a California bankruptcy judge on Tuesday to toss a Howrey LLP trustee's efforts to claw back $20 million in profits its ex-partners earned representing former Howrey clients at new firms, arguing that Howrey has no property right to the money.
McGrane LLP on Monday defended its work on behalf of a Howrey LLP creditors committee, arguing that it should be paid for its “valuable service,” as a California federal judge refused to stay a $4 million clawback settlement while creditors appeal the deal.
The trustee of defunct law firm Howrey LLP on Tuesday lambasted a fee application by McGrane LLP, saying, among other things, that McGrane’s work “provided absolutely no benefits" to the estate, and calling on a California federal judge to force the applicant to disgorge money previously collected for work on the bankruptcy case.
A California bankruptcy judge on Friday approved a settlement under which 60 former partners of Howrey LLP agreed to pay the defunct firm’s Chapter 11 trustee $4.2 million to resolve pending clawback claims despite an objection from a small group of unsecured creditors.
Three Howrey LLP unsecured creditors on Friday sued Diamond McCarthy LLP, the law firm representing Howrey's estate in its bankruptcy proceeding, saying the firm owes them damages after denying its alleged connection to them through an attorney it hired in May.
A California bankruptcy judge on Wednesday shot down efforts by unsecured creditors to remove Howrey LLP's Chapter 11 trustee from his position, ruling there was not a conflict of interest in his firm’s representation of the fallen law firm in bankruptcy.
Howrey LLP’s Chapter 11 trustee on Monday fired back at unsecured creditors’ efforts to remove him from his position, challenging them to prove their allegations that there is a conflict of interest in his firm’s representation of the fallen law firm in bankruptcy.