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Texas Lawyer

Houston Mass Tort Firm Seeks Liquidation, Owing Over $200M To Lit Funders

In a Chapter 7 filing, AkinMears indicated it was indebted to a Virage Capital Management unit for over $115 million and Rocade Capital for another $86 million.
4 minute read

The American Lawyer

Bottoming Out or Merging Up? Law Firms That Shuttered in 2024

A slower year for law firm shutdowns saw more firms get absorbed by larger firms.
5 minute read

New Jersey Law Journal

3-Letter Word: Law Firm Partners Feud Over Contract Language

"Instead of using the phrase 'agree to' in the sentences about arbitration, the parties used 'may,'" two appellate judges wrote.
4 minute read

The American Lawyer

Armstrong Teasdale Faced Regulatory Inquiry Before Shuttering in London

The firm's London office—which opened in 2021—brought in $14 million in revenue in 2022 but recorded less than $250,000 in profits.
5 minute read

The Legal Intelligencer

Schnader Harrison Can't Escape Suit Over Allegedly Misappropriated Comp, Judge Finds

Former income partner Jo Bennett's putative class action survived a motion to dismiss.
3 minute read

Law.com

The Law Firm Disrupted: Deja Vu for a Regional Stalwart?

The spot that Boston's Burns & Levinson finds itself in feels distressingly similar to Philadelphia's Schnader Harrison Segal & Lewis a year ago.
4 minute read

The Legal Intelligencer

Convicted Phila. Attorney Explains Misappropriation From Firm in Fight Against Disbarment

Scott Diamond said at a disciplinary hearing that his "stupid stealing" of money from Sacks Weston was aimed at closing the gap between what he was guaranteed and what he earned.
4 minute read

The Legal Intelligencer

Skeptical of Sacks Weston's Survival, Judge Dismisses Firm's Chapter 11 Petition

"The debtor is not a going concern, and its proposed plan will not maximize the value of the estate," U.S. Bankruptcy Judge Patricia Mayer said in an opinion.
4 minute read

The Legal Intelligencer

Under Pressure From Lit Funding Creditor, Sacks Weston Agrees to Drop Chapter 11 Bid

The firm acknowledged expected difficulties in convincing creditors to confirm its bankruptcy plan.
3 minute read

The Legal Intelligencer

Sacks Weston's Creditors Remain Hostile to Firm's Chapter 11 Plan

Third-party litigation funders Virage Capital and Jordan Litigation Funding pushed a judge Wednesday to dismiss the firm's Chapter 11 petition. Meanwhile, co-founder Andrew Sacks was absent from the hearing, purportedly dodging service of a subpoena from Virage.
4 minute read

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