Thursday, September 27, 2007

When Will It End?

A law firm dissolution proceeding that was initiated in 1992 still is unresolved after a recent decision of the New York First Judicial Department. In remanding the case to a referee, the court awarded prejudgment interest to the defendants in light of the plaintiff partners use of funds that were the property of the dissolved firm. The plaintiffs also had failed to provide records concerning two client matters and had been held in contempt for disobeying court discovery orders. The referee had failed to explain the basis for determinations regarding allocation of firm assets. The court ordered the referee "to make detailed findings on each of the issues remanded for consideration. " (Mike Frisch)

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