Unfinished business claims have been a major headache for law firms that hired lawyers from dying firms—and then faced claims for the work those lawyers brought. In the Coudert Brothers, Thelen and Heller Ehrman bankruptcies, many firms paid eight- or nine-figure settlements when sued by trustees of the defunct firms.
Two recent decisions, however, appear to end such claims in New York and perhaps elsewhere. Much of the credit goes to Jones Day, which, as a defendant in claims involving three recent firm bankruptcies, has been unrelenting in trying to roll them back. While several other firms have also battled the claims, sometimes on the same grounds, Jones Day has always had its own counsel in the fight. The firm has “very strong views of what to emphasize, and other firms don’t always agree with us,” says senior antitrust partner Joe Sims.
