Bloomberg Law
Sept. 13, 2019, 6:32 PM

U.S. Trustee Motions to Move LeClairRyan to Chapter 7

Meghan Tribe
Meghan Tribe

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 ...

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