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Breaking: Morgan & Finnegan Files for Bankruptcy

Morgan Finnegan intellectual property IP law.jpgGiven the news that has come out about Morgan & Finnegan yesterday and today, this isn’t going to come as a galloping shock to anybody.

Morgan & Finnegan has officially filed for Bankruptcy. Chapter 7. It’s up on PACER right now.

If you are Morgan & Finnegan employee waiting on severance, it is officially time to stop holding your breath.

For those interested, here’s the 87 page document.

M&F Ch. 7.pdf

Earlier: Anatomy of a Dissolution: Morgan & Finnegan In Receivership
Anatomy of a Dissolution: Morgan & Finnegan Still Hasn’t Paid Severance

Comments

1 Posted by BIGgovLAW Dood | Permalink Tuesday, March 17, 2009 4:44 PM

nooooo

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2 Posted by guest | Permalink Tuesday, March 17, 2009 4:47 PM

Good riddance to a TTT firm.

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3 Posted by guest | Permalink Tuesday, March 17, 2009 4:47 PM

The ship crashed into a fucking iceberg.

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4 Posted by guest | Permalink Tuesday, March 17, 2009 4:51 PM

BREAKING - NO ONE CARES

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5 Posted by guest | Permalink Tuesday, March 17, 2009 4:53 PM

"DAGGER!!!"

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6 Posted by guest | Permalink Tuesday, March 17, 2009 4:54 PM

Ah ha. I was waiting to see some firms totally dissolve. It's about time. Keep 'em coming.

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7 Posted by guest | Permalink Tuesday, March 17, 2009 4:56 PM

really? you couldn't pay the $3 to download the petition from PACER and put it up for free for all your users? really?

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8 Posted by guest | Permalink Tuesday, March 17, 2009 4:57 PM

Lawyers suing lawyers over non-existance assets--this is why we went to law school in the first place.

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9 Posted by guest | Permalink Tuesday, March 17, 2009 4:57 PM

Unless you were counting on severance promised by the firm. Good luck to you all.

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10 Posted by guest | Permalink Tuesday, March 17, 2009 5:01 PM

Please post petition. Thx.

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11 Posted by guest | Permalink Tuesday, March 17, 2009 5:01 PM

"A glossy admissions brochure for Brooklyn Law School, considered second-tier, reports a median salary for recent graduates at law firms of well above $100,000. But that figure doesn't reflect all incomes of graduates at firms; fewer than half of graduates at firms responded to the survey, the school reported to U.S. News. On its Web site, the school reports that 41% of last year's graduates work for firms of more than 100 lawyers, but it fails to mention that that percentage includes temporary attorneys, often working for hourly wages without benefits, Joan King, director of the school's career center, concedes.

Ms. King says she believes the figures for her school accurately represent the broader graduating class. She says the number of contract attorneys is "minimal" but declined to give a number."

http://online.wsj.com/public/article_print/SB119040786780835602.html

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12 Posted by guest | Permalink Tuesday, March 17, 2009 5:04 PM

Elie, I like how you hide West Wing references in your posts. Keep em coming.

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13 Posted by guest | Permalink Tuesday, March 17, 2009 5:04 PM

shoulda kept pitcock obv

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14 Posted by guest | Permalink Tuesday, March 17, 2009 5:04 PM

these fucking comment boards just crack me up.

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15 Posted by guest | Permalink Tuesday, March 17, 2009 5:07 PM

I like to eat pizza...

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16 Posted by guest | Permalink Tuesday, March 17, 2009 5:09 PM

What ever happened to Kash's ass lobsters?

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17 Posted by guest | Permalink Tuesday, March 17, 2009 5:13 PM

Elie - Word on the Street is that Skadden just issued another memo about the Sidebar Plus program. Get on it.

18 Posted by Carcass of Law | Permalink Tuesday, March 17, 2009 5:18 PM

Smell the rot?

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19 Posted by guest | Permalink Tuesday, March 17, 2009 5:20 PM

Filing for bankruptcy on St. Paddy's day is bound to bring good luck.

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20 Posted by guest | Permalink Tuesday, March 17, 2009 5:21 PM

I have still never heard of this firm in any context other than ATL's reportage of how shitty they are, so who gives a fuck?

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21 Posted by guest | Permalink Tuesday, March 17, 2009 5:30 PM

20 = Brooklyn top-5% who couldn't get a callback from Morgan & Finnegan

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22 Posted by guest | Permalink Tuesday, March 17, 2009 5:32 PM

It would be appreciated, no doubt by many, if more people who comment would at least make an effort to sound intelligent.

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23 Posted by guest | Permalink Tuesday, March 17, 2009 5:35 PM

These Morgan & Finnegan f***s are into me for 180g's. I'm never gonna see that again - Mr. Lexis Nexis (see bankruptcy filing).

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24 Posted by guest | Permalink Tuesday, March 17, 2009 5:38 PM

22,

Try this:

Many people would appreciate if the comments sounded more intelligent.

Are you the ghost of Justice Cardozo???

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25 Posted by guest | Permalink Tuesday, March 17, 2009 5:38 PM

Shitty enough that they flew me up from NC for a callback w/out an initial interview for a summer associate gig back in October.

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26 Posted by guest | Permalink Tuesday, March 17, 2009 5:45 PM

24: No, but a lawyer, gainfully employed, who has difficulty believing that most posters have been admitted to the Bar or are in law school.

27 Posted by Michael Ray Richardson | Permalink Tuesday, March 17, 2009 5:46 PM

The ship be sinking...

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28 Posted by guest | Permalink Tuesday, March 17, 2009 5:57 PM

HOW FAR CAN IT SINK?????????????????

29 Posted by KennyPowers | Permalink Tuesday, March 17, 2009 5:58 PM

Kenny Powers would never file bankruptcy. Doing so is admitting failure. Kenny Powers does not fail.

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30 Posted by guest | Permalink Tuesday, March 17, 2009 6:36 PM

28 - SKY'S THE LIMIT!

(happy now?)

Not 27

31 Posted by Vicariously | Permalink Tuesday, March 17, 2009 6:51 PM

Will there be some kind of memorial service for the firm?

And if so, will it be referred to as "Finnegan's Wake"?

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32 Posted by guest | Permalink Tuesday, March 17, 2009 7:00 PM

Kenyon & Kenyon: 1; Morgan 0. Boo-ya!

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33 Posted by guest | Permalink Tuesday, March 17, 2009 7:15 PM

Michael Ray Richardson is played, time for a new schitck buddy

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34 Posted by guest | Permalink Tuesday, March 17, 2009 7:41 PM

M&F no longer has an active website.

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35 Posted by guest | Permalink Tuesday, March 17, 2009 8:02 PM

31: Win.

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36 Posted by guest | Permalink Tuesday, March 17, 2009 8:21 PM

who does a corporate 7? fucking moron. put this shit in an abc.

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37 Posted by guest | Permalink Tuesday, March 17, 2009 9:20 PM

Isn't it about time that the state bars begin imposing some sort of ethical obligation on partners to ensure that their associates and staff are fully compensated before pulling the plug on their firms and moving on to new, comparable positions, while their associates and staff struggle to find new employment because crappy non-equity partners who suck up to the rainmakers get brought along as glorified associates?

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38 Posted by guest | Permalink Tuesday, March 17, 2009 9:46 PM

Very TTT = checking the incorrect "entity" box on your Chaper 7 petition.

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39 Posted by guest | Permalink Tuesday, March 17, 2009 10:06 PM

The sip shunk.

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40 Posted by guest | Permalink Tuesday, March 17, 2009 10:08 PM

It's not a partnership?

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41 Posted by guest | Permalink Tuesday, March 17, 2009 11:00 PM

2 questions:

1) How can Sweeney sign on behalf of M+F? He's a partner at Locke Lord.
2) Why aren't the amounts due to laid-off employees (such as WARN payments) included in the "amount of claim" column?

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42 Posted by guest | Permalink Tuesday, March 17, 2009 11:12 PM

41: because even though they gave WARN notices (I think), they're going to claim the WARN Act doesn't really apply (they'll argue they fall into some exception they likely didn't invoke when they were required to in their notice) and that they don't have to pay.

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43 Posted by guest | Permalink Wednesday, March 18, 2009 1:57 AM

LLP ≠ Partnership. Stupid fucks.

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44 Posted by guest | Permalink Wednesday, March 18, 2009 8:11 AM

42 you are right in that they will argue that they fall into some loop hole. That is what Gould, Sweeney and company are good at. Loop holes are us and fuck you all Ha Ha. They did not give any notice however. They have not won a case in years because they devoted all their time to screwing others.

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45 Posted by guest | Permalink Wednesday, March 18, 2009 10:02 AM

Seems rather clear that the severance payments are priority claims that will get paid up to $10,950 (assuming there is anything left to pay priority claims). See 11 U.S.C. 507(a)(4)(A).

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46 Posted by guest | Permalink Wednesday, March 18, 2009 10:03 AM

Seems rather clear that the severance payments are priority claims that will get paid up to $10,950 (assuming there is anything left to pay priority claims). See 11 U.S.C. 507(a)(4)(A).

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47 Posted by guest | Permalink Wednesday, March 18, 2009 10:29 AM

45 -- For whatever reason, on their schedules, M&F listed zero unsecured priority claims...

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48 Posted by guest | Permalink Wednesday, March 18, 2009 12:16 PM

Not getting into a war with your former emploer is generally a good rule. But this is not a general situation. M&F employees should take a crash course in banlkruptcy and make their case for a priority claim.

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49 Posted by guest | Permalink Wednesday, March 18, 2009 11:17 PM

37 -

While I agree it is slimy what some of these partners have done (and no doubt, continue to do), I disagree with imposing any new ethical obligations. Bottom line, it's a business, and the owners of that business are priority number one. If I were ever a shareholder in a partnership, I'd loathe the possibility of other lawyers passing "ethical" judgment on my management and business practices.

In fact, I think the key here is to abolish the ethical prohibition against lawyers partnering with non-lawyers. If good lawyers could partner with good non-lawyer managers, maybe more firms would be in a better position and many quality associates would still be gainfully employed. It's quite clear that lawyers can't manage shit, so maybe we should be ethically obligated to work with those who can.

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50 Posted by guest | Permalink Saturday, March 21, 2009 3:52 PM

Time for screwed M&F employees to file a proof of claim with the bankruptcy court. Who knows...you may get something. Here's the Heller Highwater Bankruptcy section on their site. It's very helpful.

http://hellerdrone.wordpress.com/bankruptcy/

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51 Posted by guest | Permalink Saturday, March 21, 2009 4:07 PM

Look on the creditor schedule to see if you're listed. It seems as though they've listed laid off M&F employees. No need to file a proof of claim if you're listed.

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52 Posted by guest | Permalink Tuesday, March 24, 2009 3:26 PM

51 wrong. We all just received a proof of claim that we have to fill out and send by July 20. There is also a meeting of the creditors on April 20 accoridng to the papers sent. 51 are you working for Locke Lorde???

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53 Posted by guest | Permalink Tuesday, March 24, 2009 3:36 PM

No 52...just someone who's as clueless as you. Write a summary of what happened, e.g., I'm Joe Blow, I worked as a secretary, para, etc., I worked for MF from blank to blank, Laid off on blank, etc. Make copies of your 1/26/09 termination letter, the 1st WARN check, and the MF letter regarding the frozen Chase account. Attach it to the proof of claim. Good luck.

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