There is an article in today’s Daily Journal entitled “Heller Nears Deal with S.F. Landlord, Meets With Creditors,” which highlights some of the proceedings at yesterday’s meeting of creditors in bankruptcy court. [Note: due to copyright issues, the article will not be replicated in its entirety here at Heller Highwater]
One interesting exchange came from Steven Blum (a former Heller associate during the 1990s and representing a class of former Heller Ehrman employees) and Peter Benvenutti:
“Why didn’t partners reach into their pockets [to satisfy their obligations under the WARN Act]?” Blum asked Benvenutti during the meeting.
Benvenutti paused for a long minute. It almost seemed he might not answer.
“They had no legal obligation to do so,” he said finally.
Speaks much to doing the “legal thing” and doing the “right thing” doesn’t it?
I’ll have more about Steve Blum and Blum Collins in an upcoming post later today.