Partners Looking To Leave Failing Firms Hindered By Bankruptcy Ruling

Bankrupt law firms may claw back profits from unfinished business that fleeing partners take to other firms, even if those partners left before the firm went under, according to a recent decision by U.S. Bankruptcy Judge Dennis Montali. The ruling, which comes as less work and tighter margins are causing more law firms to shutter, could dim prospects for partners at failing law firms who are looking to escape.