US Court dismisses suit by retired partners of defunct firm Coudert
Baker & McKenzie, Orrick Herrington & Sutcliffe and Dechert orchestrated the demise of Coudert, - unlawfully luring lawyers away from the ailing firm and --- and that each firm owed them about $48 million in retirement benefits.
The trustee appointed to Coudert upon bankruptcy made a number of similar claims some years ago, and in 2010 Baker & McKenzie settled with the trustee via an agreement to pay $6.7 million to the estate.
The case brought by the retired partners was dismissed, with the Court pointing out that they lacked the standing to sue the three firms, and that any claim should be pursued as against the Coudert estate in bankruptcy.” The retired partners plan to appeal the decision.
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