Orrick, Herrington & Sutcliffe and corporate partner Karen Dempsey have settled a suit filed by the bankruptcy trustee for Thornburg Mortgage over legal advice provided to executives of the defunct real estate investment trust, which filed for Chapter 11 protection nearly three years ago.
A bankruptcy judge has allowed a $137 million suit filed by the trustee handling the bankruptcy estate of imprisoned ex-lawyer Marc Dreier to go forward against hedge fund Westford Asset Management, a net winner in Dreier’s Ponzi scheme. However, the judge has limited the scope of the recovery the trustee can seek.
The Lewis Tein firm has agreed to pay $400,000 to settle a clawback suit by the bankruptcy trustee representing investors cheated by convicted scam artist Nevin Shapiro. Shapiro hired former U.S. Attorney Guy Lewis and Michael Tein to represent him, first as a government witness and then as a criminal target.
One of the largest settlements drafted by the bankruptcy trustee for Scott Rothstein’s defunct law firm appears to have fallen through.
Dechert, Perkins Coie, and an as-yet unidentified labor and employment lawyer are advising former New Jersey Gov. Jon Corzine in cases that could potentially arise from the bankruptcy of MF Global Holdings — the eighth-largest bankruptcy filing in U.S