IN A DISPUTE over how to divide the assets of a dissolved law firm when nearly all the firm’s clients have elected to remain with one partner, a Manhattan judge has found that the other partner is entitled only to half the value of contingency fees at the date of the break up.
The ruling from Supreme Court Justice Herman Cahn came despite an agreement between the two partners at Greco & Gottlieb to split all cases 50-50 in the event of dissolution. Since the firm broke up in 2000, the partners had fought over the validity and meaning of the agreement and how to divide fees from pending cases once those cases were resolved.
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