Law Firm Bankruptcy And Dissolution Legal News Coverage

The Legal Intelligencer

Sacks Weston Set to Continue Operations for the Next Month, Court Rules

By Amanda O'Brien | September 13, 2023

A bankruptcy judge found the firm could continue to use the approximately $98,000 left in its operating and payroll accounts for now. Litigation funder Virage Capital, owed $14 million, wants the funds to be categorized as cash collateral.

3 minute read

The Legal Intelligencer

Sacks Weston Name Partners Live 'Like Millionaires' Despite Owing $14M to Litigation Funder, Court Documents Allege

By Amanda O'Brien | September 12, 2023

Virage Capital asserts that the two partners at the bankrupt Philadelphia firm have been misusing collateral pledged to a 2017 loan that's now in arrears.

5 minute read

The Legal Intelligencer

Schnader Attorneys Scatter in Wake of Firm Dissolution

By Amanda O'Brien | September 06, 2023

Ten lawyers have landed as shareholders at Segal McCambridge. Additionally, the firm's Pittsburgh-based higher education chair joined Ogletree Deakins, while several New York partners have moved to Pryor Cashman and Gordon Rees.

5 minute read

The Legal Intelligencer

Ex-Phila. Bar Chancellor Dandridge to Move to Ballard Spahr Following Schnader Closing

By Amanda O'Brien | August 31, 2023

The firm is set to dissolve at the end of the day Thursday.

1 minute read

The Legal Intelligencer

Sacks Weston Files for Bankruptcy, a Year After Ex-Partner Copped to Stealing From Firm

By Amanda O'Brien | August 29, 2023

The largest of the firm's liabilities is attributed to Virage SPV, which sued Sacks Weston earlier this year for allegedly breaching a nearly $6 million loan agreement and defaulting on the loan.

2 minute read

The American Lawyer

After Ripping 'Unseemly' Deal Between LeClairRyan Founder and Trustee, Judge OKs Updated Settlement

By Dan Packel | August 29, 2023

"While the meteoric rise and fall of LeClairRyan PLLC may have been extraordinary, LeClair's personal avarice does not translate into a circumstance worthy of vacating this court's opinion," the judge wrote.

3 minute read

The Legal Intelligencer

Dilworth Paxson to Hire Up to 20 Lawyers From Dissolving Schnader Harrison

By Amanda O'Brien | August 22, 2023

The group is composed of attorneys who'd previously belonged to Schnader's trusts and estates, litigation, real estate, and transactional practice groups.

3 minute read