Schnader Selected as Part of Team Representing Unsecured Creditors’ Committee in Bankruptcy of Heller EhrmanOn April 14, 2010 by Schnader in News
In a story that was published in the April 8 edition of The Recorder, Schnader Harrison Segal & Lewis LLP was noted as part of the team retained to represent the unsecured creditors’ committee in the bankruptcy of the international law firm Heller Ehrman. “Heller Creditors Pick 11-Lawyer McGrane Firm for Big Suit,” detailed the unsecured creditors committee’s efforts in seeking the return of $58 million the dissolved firm paid to Bank of America and Citibank in late 2008, and noted, “[u]nder the proposed agreement, McGrane Greenfield may work with lawyers at San Francisco’s 13-lawyer Valle Makoff and Philadelphia’s 180-lawyer Schnader Harrison Segal & Lewis.” The article went on to note that while the committee considered about a dozen firms, their choice was based, “in part on cost and experience, but also a willingness to take on ‘extremely contentious cases against some of the largest firms,’ [the committee chairwoman Theresa] Hoyt said in her declaration,” which was submitted to the judge overseeing the case. The committee also noted that the assembled team has a “perceived tenaciousness,” which the committee felt would be helpful in what is expected to be a challenging case.
The committee has filed a motion with Judge Dennis Montali to approve the retainer agreement and a hearing for the motion is scheduled for April 13. It is hoped that the judge will approve the agreement in time for a crucial deposition of Bank of America scheduled for April 16.