Bankruptcy
Jun. 13, 2014
Federal court invalidates Heller Ehrman unfinished business claims
Creditors of failed law firms were dealt a major blow Wednesday when a San Francisco federal judge ruled that legal matters are the property of clients, not their lawyers or the firms that employ them.
Daily Journal Staff Writer
Creditors of failed law firms were dealt a major blow Wednesday when a San Francisco federal judge ruled that legal matters are the property of clients, not their lawyers. The ruling means that creditors are not entitled to recover profits from "unfinished-business" claims by going after money generated from deals and cases that the partners of a dissolving firm took with them to their new firms.
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