Ruden McClosky Unsecured Creditors Getting 10.5 Cents on the Dollar
Four years after the bankruptcy filing of defunct Fort Lauderdale law firm Ruden McClosky, secured and unsecured creditors will start seeing payouts.
May 07, 2015 at 10:00 AM
3 minute read
Four years after Fort Lauderdale-based law firm Ruden McClosky filed for bankruptcy, creditors are finally getting paid—but not much.
The secured lender, Wells Fargo, which provided Ruden with a line of credit, received its full claim of $4.8 million.
Unsecured creditors, including U.S. Bank, Lloyd's of London and the law firm's West Palm Beach landlord, will get about 10.5 cents on the dollar. A total of $798,000 will be paid to creditors on claims of close to $7.6 million.
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