Skallawwag

Law firm gossip: who's coming, who's going, who's next out of Clifford Chance...

Friday, December 10, 2004

Put Brobeck on eBay

U.S. Bankruptcy Judge Dennis Montali rejected Clifford Chance's offer to settle claims by ex-Brobeck partners against the Magic Circle firm. Instead, the judge set up an auction on December 17 that will set the price of the Brobeck estate, for either settlement or further legal action. The KM Group will be one of the bidders, in the hopes that they can buy the rights to sue CC over breaking up Brobeck by pilfering the Tower Snow group. The other known bidder is CC, of course, who really would rather settle at this point.

Of course, anyone could theoretically participate in the auction, so if you're interested in buying a claim against CC, here's your chance. It'll cost you, though: right now there are $250m in claims against the ethereal Brobeck.

Source:
Clifford Chance Offer Scuttled in Brobeck Bankruptcy
by Brenda Sandburg and Jeff Chorney
The Recorder
as seen in Law.com