Trustee

Family Fights Trustees Over Control of Denver Broncos

An intrafamilial battle has erupted over control of the Denver Broncos NFL team, The New York Times reports. Franchise owner Pat Bowlen was diagnosed with Alzheimer’s and relinquished control of the organization to three trustees in 2014, who set a succession plan regarding the transfer of ownership between his seven children. One of Bowlen’s daughters, Beth Bowlen Wallace, is at the center of the dispute, arguing that she is best suited to direct the team because of her philanthropic work, experience as a manager of various businesses, her time as a director of special projects at the Broncos and her law degree. Several of Bowlen’s family members have now filed a lawsuit against the trustees demanding an independent overseer, a move the trustees have asked the NFL to arbitrate. The Broncos are currently valued at $2.6 billion.

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ABA Files Amicus Brief Regarding Profits of Dissolved Law Firm

The American Bar Association last Thursday filed an amicus brief in the District of Columbia Court of Appeals asking the court to reject a bankruptcy trustee’s rule to capture profits earned by new law firms from clients previously served by the dissolved firm Howrey LLP, according to a press release on its website. The issue is whether D.C. law gives a dissolved firm a property interest in “substantively new representations undertaken by third-party firms.” The bankruptcy trustee contends it does and wants to impose on former Howrey partners and the partners’ new firms a duty to pay to the dissolved firm all profits earned by them on the hourly rate matters of former clients. The ABA is asking the court to reject the trustee’s rule and affirm that the profits in question are not the property of the dissolved firm and not subject to claims by creditors. You can view the brief here.

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