News

Thelen Partners Found Liable for Claw-Back Payments

In accordance with a Memorandum Opinion issued in November 2014, the Bankruptcy Court for the Southern District of New York ruled in favor of RCT’s client on claw-back actions commenced against former partners of Thelen LLP. The ruling found that former partners are liable for excess draw payments. Yann Geron, the chapter 7 trustee of Thelen LLP tapped RCT to handle 76 of the former partner actions, representing those partners who were hold outs and refused to participate in an earlier settlement. RCT settled most of the actions and proceeded to litigate to judgment against the remaining group.

Prior results do not guarantee a similar outcome.