Ex-Thelen Partner Clawback Deal Paves Way For More Pacts

Law360, New York (January 16, 2013, 2:38 PM EST) -- A New York bankruptcy judge on Wednesday approved a $475,000 clawback settlement with eight former partners of bankrupt law firm Thelen LLP, an agreement that paves the way for further settlements with highly compensated partners who left before the firm's dissolution in 2008.

All of the settling partners agreed to repay the firm for purportedly failing to meet certain capital requirements required by compensation they received in 2007 and 2008, according to Thelen’s Chapter 7 trustee Yann Geron of Fox Rothschild LLP, who appeared before U.S....
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