In a hearing over whether claims by a former Wolf Block partner that he is owed severance payments from the defunct firm should be heard in arbitration, the firm’s attorney shed some light on where the wind-down process stands.
Leslie Corwin of Greenberg Traurig, arguing for Wolf Block and its former chairman, Mark Alderman, told Philadelphia Common Pleas Judge Allan Tereshko he agreed the firm’s process for a wind-down wasn’t expressly mentioned in former partner Michael Budin’s 2003 separation agreement, but said the 2003 partnership agreement has a specific clause that former partners can only get paid after third-party creditors.
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