Media Mentions
2008
Joseph F. Winterscheid was quoted on May 28 in Competition Law360 regarding China’s new anti-monopoly law, questioning how China’s hybrid economy will affect the new antitrust law. "Applying free market competition, capital market type rules, and overlaying that on the Chinese economy gives rise to heightened uncertainty. It’s going to be very important to see how much independence the Chinese competition authority has," he said. The transition period will require companies to ramp up their attention to local issues and to build relationships with local experts. "You have to take into account local nuance. You have to have your eye on the global view, but in execution, in tactics, you need to be sensitive to the local. It's going to be critically important for firms to be guided by local experts that are up to the minute on enforcement developments and local customs," he said.
Joseph F. Winterscheid, Antitrust & Competition, International Antitrust & Competition
Joel G. Chefitz was quoted in the May 28 issue of Global Competition Review in an article regarding a settlement the National Association of Realtors (NAR) recently reached with the U.S. Department of Justice that increases competition between online and office-based residential real estate brokers by giving internet-based brokers access to multiple listing services they were blocked from accessing. He noted, however, that the settlement will likely bring "only modest benefits" for online brokers. "My understanding is that NAR suspended the challenged restrictive policy in 2005 after the DoJ filed suit, and the settlement appears to make that suspension permanent. Notwithstanding the relaxation in policy since 2005, commissions reportedly have held steady and online brokers still account for less than 10 percent of the market. Consumers apparently prefer flesh-and-blood agents to the virtual variety," he said.
Joel G. Chefitz, Antitrust & Competition, Trial
Joel R. Grosberg was quoted in the March 1 issue of CFO Magazine in an article regarding potential obstacles for global transactions including a Democratic White House, an increasing number of jurisdictions with the right to review a deal's antitrust implications and antitrust rules in China and India. As a partner in McDermott's Antitrust and Competition Practice, Mr. Grosberg stated that if the White House goes to a Democrat, "CFOs should expect that antitrust enforcement will be more aggressive." In India, where there are no minimum thresholds for filing acquisitions and a 210-day review period is standard, Mr. Grosberg noted that even "if your deal raises no issues, you could be held up for seven months."
Joel R. Grosberg, Antitrust & Competition, International Antitrust & Competition, M&A/JVs - Antitrust Aspects, Mergers & Acquisitions
Newly promoted partner Philip Torbøl was profiled in the January 2 issue of Global Competition Review in an article titled "McDermott Will boosts competition group in Brussels". Mr. Torbøl commented that, "The European competition practice has been booming over the last couple of years and it is an honour to follow in the footsteps of so many great lawyers."
Philip Torbøl, Antitrust & Competition, Brussels, EU Competition
2007
Veronica Pinotti has an individual ranking in the Recommended section of the November issue of the Global Competition Review survey on Italy’s competition bar which looks at the Italian marketplace. The Firm's Italian competition practice is also mentioned in the Recommended section of this survey.
Veronica Pinotti, Antitrust & Competition, Italy
Veronica Pinotti and Martino Sforza are mentioned in 31 October issue of TopLegal for their assistance in the notification to the Italian Competition Authority of the sale to a private equity buyer of Erickson Air-Crane Incorporated, the exclusive manufacturer and the largest worldwide operator of the S-64 Air-Crane heavy-lift helicopter.
Veronica Pinotti, Martino Sforza, Antitrust & Competition, Italy
William Diaz was quoted in an October 31, 2007 article published by Competition Law360 regarding Google Inc.'s $3 billion takeover of DoubleClick Inc., an internet advertising firm. As a partner in McDermott's Antitrust and Competition Practice Group, Mr. Diaz stated that the Australian Competition and Consumer Commission's decision to approve the merger would be taken into consideration by the European Union and the United States, but that E.U. and U.S. regulators would likely face opposition to the merger. "It's certainly a positive step, but I would say that it's still too early to tell. At the end of the day, it still depends on what's happening in their own domestic boundaries," he said. "If they have competitors complaining or customers complaining, it will still be an issue and Google will have to start all over again," he added.
William Diaz, Antitrust & Competition, Government Strategies
Veronica Pinotti was quoted in the October 24, 2007 issue of Global Competition Review in an article regarding Italy's antitrust authority's investigation into alleged price-fixing in the pasta industry. "The Italian consumer associations are becoming incredibly active on antitrust complaints," commented Ms. Pinotti. She continued, "Customers are complaining about the general increase in the prices of food products and an antitrust complaint is a way to react. In my view there will be other sectors under investigation very soon."
Veronica Pinotti, Antitrust & Competition, Italy
Raymond A. Jacobsen, Jr. completed a Q&A on October 2 published by Competition Law360 regarding his work in antitrust law.
Raymond A. Jacobsen Jr., Antitrust & Competition
Joel Grosberg was quoted in a June 26 article published by Red Herring regarding Google's request to a federal judge for intervention in the Microsoft anti-trust settlement with the U.S. that is set to expire in November. Mr. Grosberg spoke about Google's legal strategy and it's attempt to limit Microsoft's business. "It's quite common for competitors to use the government or make anti-trust complaints to attempt to gain some competitive advantage in the market or make it more difficult to compete. It's not unusual in that (Google) is doing it. It is unusual in making it a public dispute rather than a private one," Mr. Grosberg said.
Joel R. Grosberg, Antitrust & Competition, Antitrust - IP, Media & Tech, Intellectual Property, Media & Technology
Philip Torbøl was quoted in the March 22 issue of the Danish business newspaper Børsen. He was interviewed in relation to the EU/US Open Skies negotiations, in which he is representing parties in the airline industry.
Philip Torbøl, Antitrust & Competition, Brussels, EU Competition, International Antitrust & Competition
Philip Torbøl was quoted in the 5 March edition of the Danish business newspaper Børsen in relation to the EU / US Open Skies negotiations. Mr. Torbøl is mentioned as representing parts of the European airline industry.
Philip Torbøl, Antitrust & Competition, Brussels, EU Competition, International Antitrust & Competition
Philip Torbøl was quoted in the 2 March edition of Competition Law360 regarding the agreement of a preliminary deal in the EU / US Open Skies negotiations. He was mentioned as an advisor fo the European aviation industry and spoke about the ultimate goal of having a completely open aviation market.
Philip Torbøl, Antitrust & Competition, Brussels, EU Competition, International Antitrust & Competition
Joel Grosberg was quoted in the March issue of CFO Magazine regarding the impact of a Democratic U.S. Congress on M&A deals.
Joel R. Grosberg, Antitrust & Competition
David Marx was quoted in the February 17 issue of Modern Healthcare in regard to the Federal Trade Commission's request for additional information on Psychiatric Solutions' proposed acquisition of Horizon Health Corp. "It's indicative of an issue, but not necessarily indicative of a problem," commented Mr. Marx.
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
Philip Torbøl was profiled in an article in the 19 January issue of the Danish business newspaper Børsen in relation to the recent expansion of the Brussels office, resulting in the largest concentration of Danish lawyers in one single Brussels law firm.
Philip Torbøl, Antitrust & Competition, Brussels, EU Competition, International Antitrust & Competition
Joseph Winterscheid was quoted in Global Competition Review on January 4, 2007 in an overview of the U.S. Justice Department Antitrust Division 2006 activity. In 2006, the department obtained criminal fines totaling $473 million - up 40 per cent from the previous year. Joe notes that the division's leadership is being more active on non-criminal policy issues, including international convergence, Supreme Court amicus submissions, and examining dominant firm conduct rules.
Joseph F. Winterscheid, Antitrust & Competition
2006
Alasdair Bell was identified as a new member of McDermott's European Competition Practice Group in the December 21 issue of The Wall Street Journal.
Alasdair Bell, Antitrust & Competition, Brussels, EU Competition, London
Joseph Winterscheid was quoted in Global Competition Review on December 5 regarding the Bank of New York's $16.5 billion acquisition of Mellon Financial. If approved, this would create the world's largest securities company. "This is one of those instances where big is not necessarily bad for antitrust purposes," says Mr. Winterscheid. "The two firms' banking operations are largely complementary, and their trust and asset management business will continue to face competition from a number of formidable players."
Joseph F. Winterscheid, Antitrust & Competition
Oliver Steffens was mentioned in the September issue of Juve Rechtsmarkt as the legal advisor of Orica Limited in a deal announcement about its acquisition of Dyno Nobel.
Oliver Steffens, Antitrust & Competition, Germany
Joel Grosberg appeared on Bloomberg News television on August 2 and discussed the FTC's decision in the Rambus matter.
Joel R. Grosberg, Antitrust & Competition
James Sanders was quoted by CFO.com on July 5 regarding the death of former Enron Chairman Kenneth Lay. "The implication [of Lay's death] is that civil suits against him cannot claim that they are entitled to summary judgment. His entire conviction was voided," commented Mr. Sanders.
James L. Sanders, Antitrust & Competition
Oliver Steffens and Wolfgang von Frentz were guests on the Indian television station T1 in connection with their speaking engagement at the televised 2006 World Customs Organisation IT Conference and Exhibition.
Wolfgang Freiherr Raitz von Frentz, Oliver Steffens, Antitrust & Competition, Competition - Germany, Germany, Intellectual Property, Media & Technology, IP, Media & Tech - Germany
Frank Schoneveld was quoted in the April 21 issue of Competition Law360 regarding new EU State aid rules for R&D.
Frank Schoneveld, Antitrust & Competition, Brussels
Clive Stanbrook was quoted in the April 7 issue of The Wall Street Journal regarding the decision by the EU to broaden the offensive against "golden shares." Clive commented that the use of so-called poison pills, shareholder-rights plans that were first deployed in the United States during the 1980s to make hostile takeovers prohibitively expensive, have been limited by judges.
Clive Stanbrook QC, Antitrust & Competition, Brussels, EU Competition, EU Regulatory
Clive Stanbrook QC was quoted in the 17 March issue of Competition Law360. The Brussels office partners were interviewed for a special series on law firms in Brussels, beginning with a feature on McDermott Will & Emery/Stanbrook LLP.
Clive Stanbrook QC, Antitrust & Competition, Brussels, EU Competition, EU Regulatory
Joseph Winterscheid was quoted by Global Competition Review on March 17 regarding the U.S. Supreme Court decision that allows companies running joint ventures to set prices without infringing antitrust laws. "Had the court of appeals' decision been allowed to stand, it would have paralyzed joint venture activity in the United States," commented Mr. Winterscheid.
Joseph F. Winterscheid, Antitrust & Competition
Joseph Winterscheid was quoted by Global Competition Review on March 17 in regard to the U.S. Supreme Court's decision that limits the scope for bringing antitrust suits against patent holders. "It's evident that this time court was guided by the U.S. antitrust agencies' current enforcement policies and legislative developments in the area of patent misuse," he commented.
Joseph F. Winterscheid, Antitrust & Competition
McDermott was mentioned in the February 7 issue of the Daily Deal as antitrust counsel to Blackboard Inc. in its acquisition of WebCT Inc.
2005
Scott Megregian was quoted in the December 23 issue of the International Herald Tribune regarding EU regulators' threat to impose fines of millions of euros a day on Microsoft for breach of compliance of an antitrust ruling imposed in March 2004.
Scott S. Megregian, Antitrust & Competition, London
Joel Grosberg was quoted in the November 29 issue of Compliance Week regarding "gun jumping" prohibitions in antitrust laws. Mr. Grosberg noted that FTC general counsel, William Blumenthal, provided helpful examples of permissible conduct in a speech to the Association of Corporate Counsel on "gun-jumping." "The message is that it's okay to promote the deal and talk about the deal, as long as you have proper guidelines."
Joel R. Grosberg, Antitrust & Competition
Philip Bentley was interviewed for the weekly BBC television program Record Europe regarding his views on the development of a number of cases at the European Court of Justice in Luxembourg, the role of the court and the general awareness of companies of their right to bring cases before the court.
Philip Bentley QC, Antitrust & Competition
Davina Garrod was quoted by IDG News Service on October 12 in regard to a new complaint against Microsoft which has reportedly been submitted to the European Commission by a security software provider. Last year, a Commission ruling found that Microsoft abused its dominant market position by bundling its Media Player software with its Windows OS without a legitimate business justification. Ms. Garrod commented that this ruling only applied to the bundling of the Media Player to the relevant Windows OS, "The decision is limited to the facts of the case and so does not prohibit Microsoft from bundling other products with its OS if it wants."
Davina Garrod, Antitrust & Competition, EU Competition, London
Ray Jacobsen was quoted in the August 4 issue of the New York Law Journal regarding the U.S. Supreme Court's decision to hear, Texaco v. Dagher, which could determine whether joint ventures that agree to fix prices are subject to the per se rule disapproving of the practice. "If it's not reversed, it could have a chilling effect on joint ventures in every industry in the country," commented Mr. Jacobsen, who wrote an amicus brief on behalf of the U.S. Chamber of Commerce and the National Association of Manufacturers asking the Court to overturn the ruling.
Raymond A. Jacobsen Jr., Antitrust & Competition
Clive Stanbrook commented on Bloomberg.com on June 3 regarding an investigation by the European Commission.
Clive Stanbrook QC, Antitrust & Competition, Brussels, EU Regulatory
McDermott Will & Emery was mentioned in the February 16 issue of Handelsblatt in regard to the expansion in Brussels with Clive Stanbrook QC and a team of lawyers joining McDermott.
Clive Stanbrook QC, Antitrust & Competition, Brussels, EU Competition
McDermott Will & Emery was mentioned in the February 15 issue of The Times (London) regarding our expansion in Brussels. "The firm, run by Clive Stanbrook has had a strong reputation and was a satisfying example of British excellence abroad."
Clive Stanbrook QC, Antitrust & Competition, Brussels, EU Competition
2004
Joel Grosberg was quoted in the November 9 issue of USA Today in regard to Microsoft's proposal to pay rival software maker Novell a $536 million settlement, and its announced truce with the Computer & Communications Industry Association, a trade group that has bedeviled it on several legal fronts. Regardless of this latest proposed settlement, Novell said it intends to slap an antitrust lawsuit on Microsoft soon for using unfair practices to overtake its WordPerfect software suite, which Novell owned from 1994 to 1996.
Joel R. Grosberg, Antitrust & Competition
Joseph Winterscheid was quoted in the November 1 issue of Global Competition Review in regard to the impact the presidential election will have on antitrust regulation. "Election outcomes continue to be relevant, but much less so than in decades past. A change in administration is unlikely to bring about any sea change — any changes will indeed be at the margins. The 'swinging pendulum' analogy was apt 20 years ago, but now it's more akin to changing watch batteries — you may notice some difference in performance of the second-hand, but it won't be profound," commented Mr. Winterscheid.
Joseph F. Winterscheid, Antitrust & Competition, Government Strategies
Scott Megregian is quoted in the August issue of Acquisitions Monthly regarding potential use of the Supreme Court's recent Intel v. AMD decision for expanded civil discovery in non-U.S. competition cases.
Scott S. Megregian, Antitrust & Competition, London
Oliver Steffens was quoted in the April 29 issue of Wirtschaftswoche regarding the seventh amendment to the Act against Restraints of Competition.
Oliver Steffens, Antitrust & Competition, Germany
Joel Grosberg was quoted in the Los Angeles Times on March 25 in response to the European Commission's precedent setting ruling regarding Microsoft. In its decision the commission directed Microsoft to offer computer makers a version of Windows without its media player but it didn't say the stripped-down Windows had to be cheaper. Mr. Grosberg agreed commenting, "If they don't have to offer a difference in price, you might as well take the Windows that has the media player in it. I don't see much impact on Microsoft's business."
Joel R. Grosberg, Antitrust & Competition, EU Competition
Scott Megregian was quoted in the March 19 issue of The Wall Street Journal Europe on the EU fines Microsoft now faces because of its imposition of sales rules and its failure to reach an accord in the Windows antitrust case.
Scott S. Megregian, Antitrust & Competition, EU Competition
Davina Garrod was quoted in the Los Angeles Times on March 16 in regard to European antitrust officials unanimously endorsing the proposed sanctions against Microsoft Corp., which pave the way for a final ruling that could force the software giant to modify its Windows operating system and reveal more about how it works. "It is unlikely Microsoft is going to get out of it now," commented Ms. Garrod. "I'm not going to rule out the possibility of a settlement, but I think it's unlikely."
Davina Garrod, Antitrust & Competition, EU Competition
The opening of the Brussels office was reported by the Daily Deal on February 5. The Deal reported that the "expansion is designed to support the firm's established European Competition and regulatory practice, and is expected to enhance the services it provides to multinational clients." On February 6, Global Competition Review also reported the opening of our Brussels office.
Antitrust & Competition, EU Competition
2003
Jon Dubrow was quoted in the May 26 issue of Mergers & Acquisitions Report regarding regulatory agencies taking a harder look at the anticompetitive effects of purchasing parts of companies.
Jon B. Dubrow, Antitrust & Competition, M&A/JVs - Antitrust Aspects
Scott Megregian was quoted in the May 23 issue of The Deal regarding the increased activity of antitrust regulators, to keep the public informed, and that transparency is likely to become standard practice in Britain. Mr. Megregian commented that the Enterprise Act, which will make the main enforcers more transparent, is a good thing.
Scott S. Megregian, Antitrust & Competition, International Antitrust & Competition, London
Jon Dubrow was quoted in the April 2003 issue of Corporate Legal Times in the article "Justice Department Raises Stakes in Gun-Jumping Game," about premerger collaboration between competing companies.
Jon B. Dubrow, Antitrust & Competition, M&A/JVs - Antitrust Aspects
Scott Megregian was quoted in the April 1 issue of Commercial Lawyer in an article on the merger control in the game of corporate strategy.
Scott S. Megregian, Antitrust & Competition, London, M&A/JVs - Antitrust Aspects
McDermott Will & Emery was mentioned in the March 20 issue of The Recorder in regard to Baker v. Jewel Food Stores, in which plaintiffs alleged Jewel and Dominick's conspired to fix milk prices. McDermott Will & Emery was mentioned as counsel on behalf of Jewel Food Stores.
David Marx was quoted in the February 17 issue of Modern Healthcare in regard to the Federal Trade Commission identifying health care antitrust as a priority. "To the extent that there is speechifying that isn't promptly followed with enforcement actions, whatever deterrent effects that might be created are lost, particularly, if at the end the day, the only remedy is go forth and sin no more," commented Mr. Marx.
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
Davina Garrod was quoted in the February 12 issue of The Washington Post in regard to Microsoft rivals filing antitrust complaints in Europe. Ms. Garrod was also quoted in a similar story which ran in a February issue of the Seattle Times.
Davina Garrod, Antitrust & Competition, London
David Marx was quoted in the February 10 issue of Modern Healthcare in an article addressing federal antitrust regulators increasing paying attention to the recent wave of physician job actions aimed at pressuring state legislatures to reform tort laws. Mr. Marx commented that "….when doctors make statements publicly so competitors hear, it becomes a form of signaling….the real issue is where do you cross the line from protected speech to concerted illegal actions."
David Marx Jr., Antitrust & Competition, Health - Antitrust
McDermott Will & Emery was mentioned in the February 10 issue of the Global Competition Review in regard to advising Centerpulse on the sale of its heart valve entity, Carbomedics, to Snia S.p.A.
Antitrust & Competition, Life Sciences & Medical Devices, Mergers & Acquisitions
David Marx was quoted in the January 2 issue of the Miami Daily Business Review regarding prosecuting executives under the rising antitrust laws. Mr. Marx commented on Gary Spratling, the Department of Justice's antitrust division's deputy assistant attorney general, "…[He] pushed for bigger cases and international cooperation and converted the DOJ's corporate amnesty provision into the 'business development program' of the antitrust division." Mr. Marx's quote also appeared in the January issue of Corporate Counsel.
David Marx Jr., Antitrust & Competition
2002
David Marx was quoted in the November 18 issue of The National Law Journal in an article addressing the increased prosecution of executives in regard to antitrust violations. Mr. Marx commented on Gary Spratling, the antitrust division's deputy assistant attorney general in the 1990s who, "pushed for bigger cases and international cooperation and converted the Department of Justice's corporate amnesty provision into the 'business development program' of the antitrust division."
David Marx Jr., Antitrust & Competition
Joel Grosberg was quoted in the November 12 issue of The Boston Globe in regard to the continued antitrust litigation against Microsoft. The article addressed whether or not states are going to continue with their suits keeping in mind that the court costs are only increasing. Mr. Grosberg commented that he thought Microsoft "will agree to pay the states' fees, to avoid goading the states into filing an appeal."
Joel R. Grosberg, Antitrust & Competition
Scott Megregian was quoted by Legal Media Group on November 10 in a news piece, which examined the need to overcome legal hitches that stop regulators from sharing information in the fight to eliminate global cartels.
Scott S. Megregian, Antitrust & Competition
Scott Megregian was quoted in the September 23 issue of The Lawyer in response to AV Holdings choosing McDermott Will & Emery as the firm to advise the company on the competition aspects of its sale of plastic container business Schmalbach-Lubeca to U.S. packaging company Ball Corporation.
Scott S. Megregian, Antitrust & Competition
Scott Megregian was quoted in a feature article published in the September issue of Corporate Finance on the European Commission's proposals, which are expected to radically change competition law and the subsequent conduct of M&A transactions across the world.
Scott S. Megregian, Antitrust & Competition, London, Mergers & Acquisitions
Scott Megregian and Davina Garrod assessed the implications of The Enterprise Bill in the September issue of European Regulatory Affairs News. They commented on the impact for companies in the pharmaceutical and health care sectors and considered how the U.S. experience can prepare us for what lies ahead
Davina Garrod, Scott S. Megregian, Antitrust & Competition, Health - Antitrust
Scott Megregian was profiled in the July 15 issue of The Lawyer. Mr. Megregian discussed McDermott Will & Emery's EU competition practice and his move to London.
Scott S. Megregian, Antitrust & Competition, EU Competition, London
Scott Megregian was mentioned in the June 24 issue of Global Competition reporting that Schmalbach has retained McDermott Will & Emery to handle the competition issues in regard to the sale of its PET/closure business to Amcor. Mr. Megregian will head the Firm's legal team for Schmalbach.
Scott S. Megregian, Antitrust & Competition
David Marx and James Sneed were quoted in the May 20 issue of Managed Care Outlook in regard to a few recent settlements between physician groups and the Federal Trade Commission regarding price fixing and other anti-competitive behavior. Mr. Marx commented that, "Most of the cases arise from non-risk contracts, where the physician network is supposed to be using a modified messenger model for negotiations, but in actual practice appears to be engaging in collusive price fixing activities." Mr. Sneed commented that the antitrust settlements are not likely to last and that the FTC’s recent actions will deter other doctors.
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
David Marx was quoted in an article addressing the U.S. Justice Department's Antitrust Division's recent decision to disband its 17-lawyer healthcare task force, published in the February 11 issue of Modern Healthcare. David commented that the state attorney generals' offices, who will now handling the responsibility of the task force, are sometimes "in deep hibernation, but some are not." He also mentioned that the antitrust lawyers in the state office are increasingly educated, trained and experienced.
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
David Marx was quoted in the January 14 issue of Modern Healthcare in regard to the recent reorganization at the U.S. Justice Department, which eliminated the antitrust division’s 17-attorney health care task force. Mr. Marx pointed out that the FTC nor the Justice Department has prevailed in a hospital merger court case in 10 years, "Hospitals won that war."
David Marx Jr., Antitrust & Competition, Health - Antitrust
2001
McDermott Will & Emery was mentioned in the December issue of Legal Business in a piece on litigation and antitrust departments being launched by U.S. firms in London. McDermott was mentioned for having a notable dispute resolution practice.
Antitrust & Competition, Litigation - London, London, Trial
Scott Megregian was quoted by Legal Media Group on November 25 in an article on EU fines and that cooperation with the regulators will be rewarded with exemptions from fines in future cartel investigations.
Scott S. Megregian, Antitrust & Competition, Cartel Investigations, EU Competition, International, London
David Marx was quoted in the November 19 issue of Modern Healthcare in regard to a federal consent decree forbidding contract negotiations between independent doctors and insurers for the Federation of Physicians and Dentists in Tallahassee, Florida.
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
David Marx was quoted in the October 29 issue of Modern Healthcare in response to the U.S. Justice Department’s decision to bar a Florida-based labor organization from acting as a collective-bargaining agent for competing doctors. Mr. Marx considers the decision a defeat for physicians, "who might consider unions to be a potential safe haven for otherwise collective negotiations with payers."
David Marx Jr., Antitrust & Competition, Health, Health - Antitrust
David Gould was quoted in the October 15 issue of the Los Angeles Business Journal in regard to California’s private bankruptcy trustees who liquidate the assets of bankrupt companies and occasionally oversee their operations. Mr. Gould, who serves as counsel for the trustees, compared the once exclusive trustee "club" in which the bankruptcy judge would appoint his own trustees to the present trustees who are appointed by the Justice Department.
