Nearly two years after Howrey went under, the trustee overseeing the defunct firm’s Chapter 11 bankruptcy is ramping up his efforts to recover tens of millions of dollars from former partners and the firms they moved to.
A total of 71 firms hired the 302 partners streaming out of Howrey in the months leading up to its March 2011 dissolution. Trustee Allan Diamond says he is seeking about $100 million in clawback claims for money paid to former partners when the firm was likely insolvent, as well as an estimated up to $100 million more for so-called unfinished business claims stemming from work those partners took with them to their new firms.
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