Thelen Ruling Could Kill Dewey's Unfinished Biz Strategy

Law360, New York (September 5, 2012, 8:09 PM EDT) -- Bankrupt firms such as Dewey & LeBoeuf LLP and their creditors may have to temper their expectations on the recovery of legal fees from former partners, experts said after a New York federal judge ruled Tuesday that post-dissolution hourly fees were not recoverable assets under state law.

U.S. District Judge William H. Pauley III ruled on Tuesday that a dissolved firm's pending hourly fee matters were not recoverable assets under state law, tossing a bid by Thelen LLP's bankruptcy trustee to recoup fees from ex-partners who...
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