Ruling Limits Defunct Law Firms’ Claims to Unfinished Business

July 1, 2014 – In The News
The Wall Street Journal
Yann Geron was featured in The Wall Street Journal's article, "Ruling Limits Defunct Law Firms’ Claims to Unfinished Business." Full text can be found in the July 1, 2014, issue, but a synopsis is below.

New York's high court delivered a blow to law firm bankruptcy trustees with its ruling that bankrupt law firms cannot compensate funds from unfinished client work from attorneys who moved on to other professional firms.

Yann Geron, Thelen trustee, stated that the court's decision signifies a dead end for Geron's claims against Seyfarth Shaw LLP, who recently hired 11 partners from Thelen.

"On behalf of creditors, we are disappointed by the court’s decision, but respect that it is a unanimous ruling which gives trustees and law firms a clear path forward in New York."