Home

Howrey Estate to Subpoena 70 Law Firms over Unfinished Business
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Howrey LLPs bankruptcy trustee Allan B. Diamond has won the permission of a federal judge to subpoena the 70 law firms where Howrey partners went as the Washington, D.C. firm went broke. Last week, Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco passed the order allowing the bankruptcy trustee of Howrey to pursue the proceeds of ‘unfinished business’ that more than 200 partners took with them when they jumped ship. The order also begins an investigation into the amount of compensation that creditors of Howrey may be entitled to claw back from Howrey’s ‘unfinished business’ ported to other firms by partners who left the firm.

The claw back issue in ‘unfinished business’ has currently gained importance with the judge in the Coudert Brothers’ case having certified her first order for appeal. The Dewey estate too is banking on proceeds and claw backs from ‘unfinished business’ to deal with creditors.

The trustee for Howrey said that he prefers to negotiate deals to recover Howrey’s fair share of the profits, though he would sue if he has to. “I’ll do what I have to do,†said Diamond in an interview last week, stating that he expects claw backs to yield a significant amount of money. At present, Howrey’s creditors are owed more than $100 million.

  
What
Where


The seventy firms on the list of Diamond include firms like Winston & Strawn LLP and Jones Day. Mr. Diamond says that he would subpoena former Howrey partners if firms do not provide information about which clients followed former Howrey partners to their new firms and the amount of compensation earned by firms from such ‘unfinished business’ of Howrey.

Howrey dissolved in March 2011 and later in the year entered Chapter 11 bankruptcy.

This article is based on a report from the Wall Street Journal Law Blog written by Jacqueline Palank.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

SEARCH IN ARCHIVE

To Top