The bankruptcy of failed law firm Howrey LLP was granted conversion to a Chapter 7 liquidation on Friday in California federal court, according to court records, a move that was considered likely after real estate obligations made moving forward in Chapter 11 a challenge.
A California bankruptcy judge has indicated he will grant a request to convert Howrey LLP's bankruptcy case into a Chapter 7 liquidation later this week after the trustee overseeing the shuttered law firm and its creditors told the court that he couldn't reach a deal related to former landlords' rent claims.
McGrane LLP urged a California bankruptcy court Wednesday to hold off on letting now-defunct Howrey LLP’s trustee make $5 million in payments to counsels and creditors, arguing a Ninth Circuit appeal of McGrane's fees reduction is bound to affect the distribution.
A former Howrey LLP partner gave up $110,000 in claims against the failed firm and agreed to pay the Howrey estate $950, allowing the current Jones Day partner to avoid a potential clawback suit under a deal filed Wednesday in California bankruptcy court.
A California federal judge on Monday affirmed a bankruptcy judge’s reduction of an attorney’s fees after holding that he breached his ethical duty following his withdrawal as co-counsel for the official committee of unsecured creditors of defunct Howrey LLP and subsequent counseling of individual creditors.
The unsecured creditors committee for defunct law firm Howrey LLP told a California federal bankruptcy judge on Monday that it has reached a proposed settlement resolving an adversary complaint that sought funds received by a former partner and current Arent Fox LLP partner.
Howrey LLP creditors have filed an appeals notice in California over a ruling that unpaid rent claims brought by landlords for office space leased to the now-shuttered law firm deserve priority status.
A California bankruptcy judge ruled Tuesday that claims for unpaid rent brought by landlords for office space leased to defunct law firm Howrey LLP should be given priority status under the Bankruptcy Code.
Dewey & LeBoeuf LLP creditors and the Irvine Co. LLC on Thursday both attacked attempts by creditors for defunct law firm Howrey LLP to bat back their rent claims for hundreds of thousands of dollars, saying there is no precedent for deprioritizing them.
A California bankruptcy judge on Tuesday approved a deal between the unsecured creditors committee for defunct law firm Howrey LLP and three former partners, resolving multimillion-dollar claims over intellectual property-related casework that the attorneys brought with them to similarly doomed Dewey & Leboeuf LLP after Howrey collapsed in 2011.