Heller considers bank lawsuit over 'clerical error'
Heller Ehrman's creditors committee is preparing to sue the firm's banks to negate their secured creditor status, a lawyer for the committee told a bankruptcy judge on Wednesday (21 January). During the second hearing of the defunct firm's bankruptcy case, Heller's lawyers argued with the banks over cash available for settlements with its major landlords, reports The Recorder. Heller lawyers are reluctant to hand the banks any more money, claiming they are already overcollateralised, while the banks' lawyers stated that they are still owed money.The bankruptcy court judge approved a settlement agreement with Heller's Los Angeles landlord, the rejection of several major leases, and $200,000 (£146,000) in retention bonus payments to employees that agreed to stay on through a portion of the dissolution.
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