Financial troubles at Ruden McClosky are deepening, with the Fort Lauderdale-based firm suspending all capital payouts to former equity shareholders. In a letter to about 50 to 60 former equity shareholders Saturday, co-managing partners Michael Krul and Carl Schuster said the firm was declaring a "moratorium" on all capital account repayments. The three-paragraph letter stated the firm would review the situation "later in the year."
January 27, 2011 at 12:00 AM
1 minute read
Financial troubles at Ruden McClosky are deepening, with the Fort Lauderdale-based firm suspending all capital payouts to former equity shareholders.
In a letter to about 50 to 60 former equity shareholders Saturday, co-managing partners Michael Krul and Carl Schuster said the firm was declaring a “moratorium” on all capital account repayments. The three-paragraph letter stated the firm would review the situation “later in the year.”
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