Defunct US firm Heller Ehrman has filed for Chapter 11 bankruptcy protection, writes Legal Week sister title The Recorder. The move, filed on 28 December, puts a stay on at least five suits filed against the firm since it announced on 26 September that it would dissolve.According to a memo sent from the firm's dissolution committee to former Heller employees, the decision to file for bankruptcy protection was driven by its San Francisco landlord, 333 Bush Associates, which sought and received a writ of attachment on 19 December, making it a secured creditor to the tune of $48m (£33m). A lack of co-operation from the firm's banks, Bank of America and Citibank, was also blamed.
January 05, 2009 at 06:36 AM
1 minute read
The original version of this story was published on Legalweek
Defunct US firm Heller Ehrman has filed for Chapter 11 bankruptcy protection, writes Legal Week sister title The Recorder.
The move, filed on 28 December, puts a stay on at least five suits filed against the firm since it announced on 26 September that it would dissolve.
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