Three days after disgraced attorney Marc S. Dreier was released from jail to begin house arrest at his Manhattan apartment, papers filed in the Dreier LLP bankruptcy proceeding reveal that Dreier's 250-attorney firm might not be insolvent after all. According to a summary of schedules filed Monday with the Southern District of New York Bankruptcy Court, Dreier LLP has $59 million in assets and $42 million in liabilities, some $30 million of which is owed to creditors holding secured claims.
Dreier Bankruptcy Papers Reveal Surplus of Assets
New York Law Journal
February 18, 2009