Thelen Trustee Seeks OK For $5M Clawback Settlement

Law360, New York (September 29, 2011, 5:53 PM EDT) -- Bicoastal law firm Thelen LLP's Chapter 7 trustee on Wednesday asked a New York bankruptcy court to approve settlements worth $4.98 million with 93 former partners over compensation they received in the firm's last years.

Thelen's trustee, Yann Geron of Fox Rothschild LLP, said in a motion to approve the settlements that an investigation showed that he could probably pursue a number of claims against most or all of the firm's former equity partners. The potential claims arose mostly from the failure to meet capital requirements...
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