The largest of the firm’s liabilities is attributed to Virage SPV, which sued Sacks Weston earlier this year for allegedly breaching a nearly $6 million loan agreement and defaulting on the loan.
August 29, 2023 at 05:56 PM
2 minute read
Philadelphia law firm Sacks Weston LLC filed for Chapter 11 bankruptcy on Aug. 25, over a year after former partner Scott Diamond pleaded guilty to charges of stealing over $319,000 in legal fees beginning in 2018.
According to the firm’s filing in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, it will have funds available for unsecured creditors, holding between $10 and $50 million in assets to be distributed to under 50 creditors.
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