The Thelen firm filed for Chapter 7 bankruptcy Thursday night, almost a year after the law firm voted to dissolve. Facing a $25 million judgment granted to a New York landlord in Los Angeles County Superior Court in June, Thelen had 90 days to void the judgment with a bankruptcy or face paying the landlord ahead of other unsecured creditors. A similar judgment forced Heller into bankruptcy last December. The move was the only way to be fair to all unsecured creditors, according to a member of Thelen's dissolution committee.
September 21, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Thelen LLP filed for Chapter 7 bankruptcy (pdf) 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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