A judge on Wednesday ordered the appointment of a receiver to defunct IP shop Morgan & Finnegan and enjoined it from selling or transferring its assets after the failed New York firm found itself the target of a lawsuit from lender JPMorgan Chase. JPMorgan had filed suit against Morgan in New York Supreme Court, claiming the firm defaulted on its loan agreement and owed the bank more than $4 million. The firm dissolved last month after Locke Lord Bissell & Liddell agreed to hire more than 30 of its lawyers.
Morgan & Finnegan Target of JPMorgan Suit
The American Lawyer
March 17, 2009