Ex-Thelen Partners Will Pay Clawbacks: Ch. 7 Trustee

Law360, New York (July 28, 2011, 8:14 PM EDT) -- The Chapter 7 trustee for defunct law firm Thelen LLP told a New York bankruptcy judge on Thursday that he is negotiating voluntary clawback agreements out of court with groups of former partners who may have been overpaid before the firm collapsed.

With at least five major assets still not liquidated — including the clawback agreements with partners — trustee Yann Geron of Fox Rothschild LLP told U.S. Bankruptcy Judge Shelly C. Chapman that he might be able to recover enough money to pay Citibank NA's...
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