Thelen Trustee Seeks OK For $5M Clawback Settlement

September 30, 2011 – In The News
Law 360

Yann Geron, trustee for the bicoastal law firm Thelen LLP, asked a New York bankruptcy court to approve settlements worth $4.98 million with 93 former partners over compensation they received in the firm's last years.

"The estimated aggregate value of the claims includes alleged overcompensation received by partners in violation of the relevant partnership agreements, unpaid capital contribution requirements, and unpaid loans or other advances made by the debtor on behalf of the partners for a variety of reasons, including payment of health insurance and other personal expenses," Geron said.

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