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An unexpected wrinkle put in the Heller Ehrman's bankruptcy case

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published September 30, 2011

By Author - LawCrossing

09/30/11

An unexpected wrinkle put in the Heller Ehrman's bankruptcy case
An unexpected wrinkle was put in the Heller Ehrman's bankruptcy case because of the limited authority of bankruptcy courts to decide the fate of certain claims after the U.S. Supreme Court’s Anna Nicole Smith decision. 16 law firms are defending themselves against Heller estate’s Jewel claims over fees from unfinished business and have requested the federal bankruptcy judge to move the argument to federal district court. Only 8 of the 16 firms have mutually agreed to pay a sum of $2.25 million to the estate. These firm include Arnold & Porter, Cooley,Hogan Lovells , Pillsbury Winthrop Shaw Pittman and Proskauer Rose. Attorney Christopher Sullivan, representing Heller liquidation plan administrator Michael Burkart, hopes for an early settlement from the other 8 firms as well.
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