Two weeks after it filed for bankruptcy protection a U.S. Trustee has filed the motion to put dissolving law firm LeClairRyan’s bankruptcy proceedings into the hands of a court-appointed liquidator.
John Fitzgerald III, the acting trustee for the region, filed the motion to convert the Richmond, Va-based firm’s Chapter 11 filing to a Chapter 7 with the Eastern District of Virginia on Sept. 12, citing diminishing cash flow amid increasing expenses.
Following the firm’s Sept. 3 Chapter 11 filing, it received an interim order by the court approving settlement procedures concerning the potential discount and settlement of accounts receivable and ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.