Geron v. Seyfarth Shaw LLP

OPINION OF THE COURT

Read, J.

The United States Court of Appeals for the Second Circuit has asked us two questions relating to “whether, for purposes of administering [a] . . . related bankruptcy, New York law treats a dissolved law firm’s pending hourly fee matters as its property” (In re Thelen LLP, 736 F3d 213, 216 [2d Cir 2013]). We hold that pending hourly fee matters are not partnership “property” or “unfinished business” within the meaning of New York’s Partnership Law. A law firm does not own a client or an engagement, and is only entitled to be paid for services actually rendered.

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