Howrey Trustee Slams Latest Bid To Sue Equity Holders

Law360, New York (March 22, 2013, 1:33 PM EDT) -- The trustee overseeing Howrey LLP’s liquidation on Thursday urged a California bankruptcy court to reject an unsecured creditor’s latest effort to hold the firm’s former equity security holders accountable for its downfall by seeking permission to launch a class action in federal district court.

Trustee Allan B. Diamond of Diamond McCarthy LLP slammed Howrey Claims LLC’s bid to modify the automatic stay protecting Howrey from litigation while it is in bankruptcy, saying it is nothing more than a thinly veiled effort to get around the court’s...
To view the full article, register now.