Avoiding liability for fraudulent conveyances may have just become tougher. Why? Because this week, Kirkland & Ellis explicitly announced it is now seeking out plaintiff’s side contingent fee commercial cases, such as fraudulent conveyance cases. According to the firm’s press release, this move is motivated in part by its massive win in the chapter 11 case of Tronox. There, Kirkland took the plaintiff side in a fraudulent conveyance case involving many years of carving risks and assets out of a large company facing billions of long term legacy liabilities from environmental pollutants and tort claims. According to K&E’s July 10, 2019 press release:
“We took a look at the historical results we’ve achieved on the plaintiffs side over the last one or two decades for plaintiffs, and we’ve had some huge wins,” said partner Andrew Kassof, who co-led the team that represented Tronox Litigation Trust in winning $14 billion in damages in 2013 against Kerr-McGee in a fraudulent conveyance suit.”