law firm

Ex-law firm partner pleads guilty to bankruptcy fraud
Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City

Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City, U.S., August 24, 2020. REUTERS/Andrew Kelly Acquire Licensing Rights

Sept 12 (Reuters) – A former partner at three major law firms pleaded guilty on Tuesday to making false statements in U.S. bankruptcy court in an effort to keep his multi-million dollar house and luxury sports car, the Manhattan U.S. Attorney’s Office said.

John Roesser, 52, a former international arbitration lawyer who practiced as a partner at law firms Alston & Bird, Arnold & Porter Kaye Scholer and Dechert from 2013 to 2018, could face up to five years in prison after pleading guilty to one count of false oaths and claims in bankruptcy.

Roesser’s attorney, Mark Cohen of Cohen, Frankel & Ruggiero, did not immediately respond to a request for comment.

Prosecutors said Roesser made false statements in his own personal bankruptcy proceedings in an effort to hold onto his assets, including his house and an Aston Martin luxury sports car, despite owing more than $3 million in unpaid income taxes.

“The defendant — who used to be a lawyer and knew exactly what he was doing —

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September 15, 2023 by ATTORNEY

New Jersey Bankruptcy Attorney Daniel Straffi Releases Insightful Article on Bankruptcy Filing Frequency

Daniel Straffi (https://www.straffilaw.com/how-often-can-you-file-for-bankruptcy-in-new-jersey/), a reputable New Jersey bankruptcy attorney from the law firm Straffi & Straffi Attorneys at Law, has released a comprehensive article titled, ‘How Often Can You File for Bankruptcy in New Jersey?’. The article offers a deep dive into the complex world of bankruptcy laws, outlining the frequency of bankruptcy filings and the potential implications on one’s financial wellbeing.

Straffi, a seasoned New Jersey bankruptcy attorney, offers a wealth of knowledge in guiding clients through the intricate process of bankruptcy. His latest article is a testament to his commitment to informing and guiding the public on the laws and regulations specific to New Jersey.

“Understanding the frequency of bankruptcy filings in New Jersey is crucial to navigate the process effectively and make informed decisions,” states New Jersey bankruptcy attorney Daniel Straffi. “Knowing about the limitations of how often an individual can file for bankruptcy is important as it allows them to avoid any issues with restrictions and avail of the benefits for filing in a timely manner.”

The article provides a detailed overview of both Chapter 7 and Chapter 13 bankruptcy, including eligibility criteria, New Jersey’s specific exemptions, the means test, automatic stay, and more.

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August 7, 2023 by ATTORNEY

Complaints preceded attorney Brian Dailey’s bankruptcies

“To avoid the consequences of its malfeasance, the debtor initiated this bankruptcy case,” receiver John Polderman said in his objection to first-day motions. “Brian Dailey and The Dailey Law Firm have shown that they cannot be trusted to act in a fiduciary capacity with client funds.”

Dailey, who also filed a petition for Chapter 13 personal bankruptcy protection July 25, is facing a 12-count complaint by the Attorney Grievance Commission accusing the personal injury attorney of dishonesty, fraud and deceit. It is scheduled for a hearing Aug. 8. Dailey could be subject to discipline as severe as disbarment.

Some of the allegations against Dailey in the 2022 Attorney Grievance Commission filing to the Attorney Discipline Board date back more than a decade. As part of their defense, Dailey and his firm have filed complaints and countersuits against those going against his practice. In court documents, Dailey alleges that a former employee embezzled $600,000 from his firm, which contributed to its financial insolvency. The former employee denies the allegation.

Dailey declined to speak to Crain’s on the record for this report.

“Brian and I are looking forward to a full and fair hearing before the hearing panel at which time we

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August 6, 2023 by ATTORNEY

Dailey Law Firm files for bankruptcy amid embezzlement claims

The law firm, which specializes in medical malpractice, Social Security, class action, mass tort and criminal defense, has four attorneys listed on its website, including principal Brian Dailey. It was founded in 1927 in Iowa and relocated to metro Detroit in 1992, with additional offices in Chicago and Indianapolis.

Brian Dailey
Brian Dailey

Dailey did not return a message for comment, nor did Scott Kwiatkowski, attorney at Southfield-based Goldstein Bershad & Fried PC representing Dailey’s firm in the bankruptcy case.

The financial trouble for Dailey Law began with family issues and a cancer diagnosis, which was exacerbated by liquidity shortcomings brought on by the COVID-19 pandemic, according to the bankruptcy cover sheet.

Then in 2021, the law firm discovered that a former employee allegedly “wrongfully diverted” $600,000 in settlement proceeds. The firm was ordered to pay $600,000 into Wayne County Circuit Court in connection to the settlement from about five years ago, the filing said. Unable to pay the sum, the firm was appointed a receiver.

Dailey Law filed a lawsuit earlier this year against insurance company Travelers Indemnity Co. in an attempt to recoup the $600,000 that was allegedly embezzled. According to that lawsuit, Dailey contracted Travelers in 2010 to protect

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July 16, 2023 by ATTORNEY

FTX’s bankruptcy lawyers and advisers pocket $32.5M in February

February’s round of legal expenses for bankrupt crypto exchange FTX has been published, and it remains a scary figure for debtors.

A series of court filings from April 4 to April 10 detailed the monthly fee statements for February of the law firms involved with FTX’s bankruptcy proceedings, which come to a combined total of around $32.5 million.

The figure didn’t include the recompense for restructuring chief and CEO John J. Ray III, who pocketed $305,000 in February, according to a March court filing.

Ray’s remuneration for March came in at a similar figure, with an April 10 filing showing his total fees and expenses were $329,173.

The FTX chief billed at $1,300 per hour and reported working 255.9 hours for the period of March 1 to March 31. This makes his fees a whopping $327,470, with the remaining $1,703 for airfares, lodging, transport, meals and other expenses.

John J Ray III’s expenses and hourly billings for the month of March. Source: Kroll

The law firm Quinn Emanuel Urquhart and Sullivan sought a total of over $2.7 million in reimbursements for February. Partners at the firm billed between $1,246 and $1,917 per hour and associates billed between $747 and $1,183

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April 16, 2023 by ATTORNEY
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