Updated: The fallen firm's Thursday night move, prompted by a bank's decision to cut funding, dims hopes of collecting most of its $35 million in outstanding accounts receivable.
September 18, 2009 at 12:00 AM
1 minute read
SAN FRANCISCO — Thelen LLP filed (.pdf) for Chapter 7 bankruptcy in the Southern District of New York on Thursday night, almost a year after the firm voted to dissolve.
The move was the only way to be fair to all unsecured creditors, said David Graybeal, a member of Thelen’s dissolution committee.
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