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January 2, 2009 11:57 AM

Dreier Update: Ex-Prosecutor Named as Bankruptcy Trustee

Posted by Zach Lowe

A quick Marc Dreier update, courtesy of our friends at the New York Law Journal: Sheila Gowan, a former federal prosecutor who specialized in fraud cases, has been named as the trustee for Dreier LLP in the defunct firm's bankruptcy case.

Stuart Bernstein, the Chief Bankruptcy Judge for the Southern District of New York, is scheduled to rule on Gowan's appointment on Jan. 9, the NYLJ says. Gowan would essentially take over from Mark Pomerantz, the Paul, Weiss, Rifkind, Wharton & Garrison partner who has been serving as the firm's receiver in the Securities and Exchange Commission's civil case against Dreier, the NYLJ reports. 

In an interview, Gowan told the NYLJ that as an assistant U.S. attorney, she specialized in civil fraud prosecutions linked to the Federal Emergency Management Act, the Department of Housing and Urban Development, and the Defense Department. She has since left to become a litigation partner at Diamond McCarthy. Her hourly rate is $495, the NYLJ says.

In an affidavit, Gowan said she has no conflicts that would disqualify her, but one of her partners at Diamond, Howard Ressler, did work with Bernstein for seven years when they both were at Kensington Ressler. 

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