Ex-Howrey Partner Who Lost His Capital Contributions Also Lost His 'Dream Home'
A former Howrey partner who was elected to the U.S. Senate in 2010 lost his million-dollar home in Utah after the law firm failed to return his capital contributions.
U.S. Sen. Mike Lee, R-Utah, was forced to sell his Alpine “dream home” in a short sale, the Salt Lake Tribune reports. Lee spokesman Brian Phillips told the Deseret News that Lee could have remained in the home if Howrey had repaid around $100,000 it owes him.
The bank lost about $400,000 in the short sale and Lee lost a “significant” down payment, the Salt Lake Tribune says. He is now living with his family in a rental home. He earns $174,500 a year as a senator.
The Am Law Daily summarizes the stories and reports that none of Howrey’s former partners have collected any money from the bankruptcy estate. Lee earned $375,000 at Howrey for the first 10 months of 2010, the Am Law Daily says. He left Howrey six months before its dissolution.
Related coverage:
ABAJournal.com: “Meet Andrew Ness, Who Lost His Capital Contributions at Three Failed Law Firms”
