In a unanimous decision, the New York Court of Appeals stuck a dagger through the heart of bankruptcy estates of failed law firms as it declared that profits earned on matters that former partners of the failed firm take with them to their new employers are not property of the former firm. Those profits belong to the new firm that provides the legal services.
Background
United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Costs in English law, Abuse of process, Solicitor, Debt, Liquidation, Liquidator (law), Honda, Insolvency Act 1986 (UK)
United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Mediation, Cryptocurrency, Cladding, Non-fungible tokens, Insolvency, American Bankruptcy Institute, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK), Pensions Act 2004 (UK), Building Safety Act 2022 (UK)