Altheimer crash hit partners for $15m

Westacott, Gemma
August 2005
Lawyer;8/22/2005, Vol. 19 Issue 33, p2
Trade Publication
Looks back at the closure of Chicago, Illinois-based law firm Altheimer & Gray in 2003, in the light of the 2005 closure of Coudert Brothers LLP. Decision of the firm to file for bankruptcy in October 2003; Liquidation plan filed by the firm in January 2005; Details of the plan under which nine Altheimer lawyers, including the executive committee, have become personally liable for the payment of $6.8 million, or 45 per cent, of the firm's remaining total debt; Background on Altheimer's sudden collapse in June 2003; Reaction of the legal community to the closure of the 88-year-old firm.


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