CORRECTED: Ch. 11 Trustee Will Oversee Howrey Bankruptcy

Law360, New York (September 21, 2011, 10:17 PM EDT) -- A California bankruptcy judge on Wednesday granted Citibank NA's motion to appoint a trustee to oversee Howrey LLP's Chapter 11 bankruptcy proceedings after Citibank raised concerns about the defunct firm's ability to repay the $49 million it still owes the bank.

U.S. Bankruptcy Judge Dennis Montali's order signed off on the appointment of a Chapter 11 trustee as agreed to by Citibank, Howrey and the creditors committee, following Citibank's withdrawal of a Chapter 7 conversion request.

Citibank, one of Howrey's biggest creditors, said it was losing...
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