Former Howrey LLP partners have agreed to a deal to return over $4.2 million to the defunct law firm’s bankruptcy estate, representing 16 per cent of their earnings in the year up to the dissolution of the firm. Around 60 partners will pay from between $21,000 to $192,000 each with the Howrey trustee Allan Diamond threatening to sue any of the remaining 70 partners who do not sign up to the deal.

Unfinished business claims

Mr Diamond also got agreement on unfinished business claims from four law firms which recruited Howrey partners. McKenna Long & Aldridge will pay $308,000, Steptoe & Johnson $324,000, Jenner & Block $68,116 and $59,579 from Hoke LLC.  Settlement talks are continuing with other firms including Winston & Strawn and Baker Botts. Source: Wall Street Journal