A California bankruptcy judge on Friday ordered McGrane LLP, a law firm that had represented the creditors’ committee of defunct Howrey LLP, to pay back nearly half the money it was paid for work on the case for breaching professional responsibility rules.
A California bankruptcy judge on Wednesday approved 31 former Howrey LLP equity partners’ $1.5 million deal with the firm’s Chapter 11 trustee, ruling that the agreement meets the standards set by a prior major deal on clawback claims in the bankruptcy.
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.