Law Practice,
Law Office Management,
California Supreme Court,
Bankruptcy,
9th U.S. Circuit Court of Appeals
Mar. 16, 2018
No more unfinished business
Does a dissolved law firm, under California law, have a property interest in unfinished hourly fee matters upon its dissolution? The California Supreme Court answered unequivocally: no.
Suzzanne Uhland
Partner
O'Melveny & Myers LLP
Email: suhland@omm.com
Suzzanne is chair of O'Melveny's US Restructuring Practice. She represents parties in Chapter 11 reorganizations and out of court restructurings and buyers and sellers in Bankruptcy Code Section 363(b) sales and other distress transactions. She also practices with the Firm's Transactions attorneys, both in bankruptcy cases and in structuring transactions to avoid bankruptcy-related risks.
Jennifer M. Taylor
Partner
O'Melveny & Myers LLP
Email: jtaylor@omm.com
Jennifer represents clients in connection with the financing for leveraged buyouts, secured and unsecured working capital facilities, and other structured financings, including mezzanine loans, high yield, and the financing of debtors in bankruptcy.
Does a dissolved law firm, under California law, have a property interest in unfinished hourly fee matters upon its dissolution? The 9th U.S. Circuit Court of Appeals certified the question to California's highest court, and the California Supreme Court answered unequivocally: no, it does not, and the dissolved firm does not have a property interest in the profits generated by its former partners' work on such hourly fee matters. The highly anticipated decision arises...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In