Richmond, VA -- (ReleaseWire) -- 09/04/2019 --LeClairRyan PLLC ("LeClairRyan") is seeking to liquidate under chapter 11 of the bankruptcy code as the struggling law firm ceased operations in August 2019. LeClairRyan has struggled following an exodus of partners in recent years. Ronald Page appeared at the hearings on LeClairRyan's first day motions noted below.
LeClairRyan's bankruptcy case is numbered 19-34574- KRH. The bankruptcy case is being presided over by Judge Kevin Huennekens. Proposed counsel for LeClairRyan is the law firm of Hunton Andrews Kurth LLP.
The hearings on LeClairRyan's first day motions were held on September 3rd at 1:00 p.m. in the courtroom of Judge Phillips, substituting for Judge Huennekens, located in the U.S. Bankruptcy Court, U. S. Courthouse, 701 E. Broad St., Room 5000, Richmond, VA 23219.
At the first day hearings, LeClairRyan painted a picture of its decline. Nonetheless, LeClairRyan comes into bankruptcy with a plan for an orderly liquidation intended to maximize value for all its stakeholders. As part of the winddown, LeClairRyan's 26 offices will be shuttered by the end of September.
LeClairRyan's primary asset is its accounts receivable in the approximate amount of $20 million. The claims of its secured lenders and its unsecured creditors dwarf LeClairRyan's assets.
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond,
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in LeClairRyan's bankruptcy.
Ronald Page, PLC
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N. Chesterfield, VA 23235