5 Tips For Partners To Avoid Clawbacks When Firms Collapse

Law360, New York (February 18, 2014, 8:15 PM EST) -- Law firm bankruptcies almost always guarantee clashes between the defunct firm and its former partners, but experts say there are some simple ways attorneys can help protect themselves against clawback litigation before they jump ship.

Certain ex-partners of Dewey & LeBoeuf LLP have been learning that lesson the hard way, as the fallen firm’s liquidating trustee fires off new lawsuits every few weeks to recover payments partners received while Dewey was allegedly insolvent. Dewey partly went under due to the enormous compensation packages it promised partners,...
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