Using Bankruptcy As a Credible Threat

In October 2019, Weintraub Zolkin Talerico & Selth LLP successfully settled a complex piece of litigation against its Client. The Client owns a successful multinational apparel company and was sued by a disgruntled former employee who claimed to be a part owner of the business.  Although the claims had no merit, because the client’s documentation was poor, the Client had exposure and was forced to engage in lengthy and expensive litigation for over two years.  The Client retained Weintraub Zolkin Talerico & Selth LLP with hope of reaching a settlement agreement with the litigant.  Through a strategic negotiated approach using bankruptcy as a credible threat, Weintraub Zolkin Talerico & Selth LLP quickly negotiated a reasonable settlement with the “former partner”.  The Client was so pleased and appreciative of the settlement she paid the firm a $20,000 bonus.
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