Bankruptcy
Jul. 3, 2014
New York high court rejects clawback claims in Thelen case
New York's highest court ruled the estates of bankrupt firms can't claim profits from matters begun there before being taken elsewhere by former partners. A federal judge in San Francisco recently made a similar ruling.
Daily Journal Staff Writer
In a ruling that affects Thelen LLP's bankruptcy, New York's highest court on Tuesday struck a blow to the power of trustees to recoup fees on matters former partners took to their new firms.
The unanimous ruling is not binding in California but it dovetails with a recent ruling by U.S. District Judge Charles R. Breyer in San Francisco, creating a sense of momentum for defendant firms that ha...
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