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Breaking news and analysis related to law firm dissolution and partner and creditor disputes.
By Dan Packel | June 14, 2024
The spot that Boston's Burns & Levinson finds itself in feels distressingly similar to Philadelphia's Schnader Harrison Segal & Lewis a year ago.
4 minute read
By Amanda O'Brien | June 6, 2024
Scott Diamond said at a disciplinary hearing that his "stupid stealing" of money from Sacks Weston was aimed at closing the gap between what he was guaranteed and what he earned.
4 minute read
By Amanda O'Brien | April 25, 2024
"The debtor is not a going concern, and its proposed plan will not maximize the value of the estate," U.S. Bankruptcy Judge Patricia Mayer said in an opinion.
4 minute read
By Amanda O'Brien | April 24, 2024
The firm acknowledged expected difficulties in convincing creditors to confirm its bankruptcy plan.
3 minute read
By Amanda O'Brien | April 10, 2024
Third-party litigation funders Virage Capital and Jordan Litigation Funding pushed a judge Wednesday to dismiss the firm's Chapter 11 petition. Meanwhile, co-founder Andrew Sacks was absent from the hearing, purportedly dodging service of a subpoena from Virage.
4 minute read
By Amanda O'Brien | March 21, 2024
The funder claims the firm's Chapter 11 filing was a bad-faith effort to delay trial and forum shop in a dispute stemming from a $5.79 million loan agreement.
4 minute read
By Amanda O'Brien | February 8, 2024
The suit says that income partners and counsel were forced to defer a portion of their annual compensation into the firm's pension plan, despite the pension plan itself not requiring such a contribution, and that money was ultimately commingled with firm operating funds.
4 minute read
By ALM Staff | December 29, 2023
Over a year's worth of reporting on the issues and events that led to Stroock's downfall
8 minute read
By Dan Roe | December 28, 2023
From Stroock to Schnader, firms that failed struggled with common issues of recruitment, retention and financial obligations.
7 minute read
By Justin Henry | December 11, 2023
Hogan Lovells, which acquired a team of 28 partners from Stroock and office leases in New York and Washington, is also a secured creditor, gaining rights to the firm's largest liability: a loan made by Chase Bank.
4 minute read
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