Pierce Bainbridge Beck Price & Hecht and founder John Pierce are on the hook for nearly $4 million, according to a lender, who filed in court Wednesday a confession of judgment signed by Pierce.

In an affidavit of confession of judgment, filed in Manhattan Supreme Court, Pierce confirmed that he and the firm owed Karish Kapital for future receivables the lender purchased on Feb. 19. The value of the receivables was $3.75 million, according to Karish Kapital’s court papers.

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