After Losing 19 of 29 Lawyers, Firm Files for Bankruptcy Protection
Posted Aug 17, 2012 10:50 AM CDT
By Molly McDonough
In an effort to stave off eviction from its offices in downtown St. Louis, Moser & Marsalek has filed for bankruptcy protection.
The firm, founded in 1925, has lost 19 of its 29 attorneys over the past two years and was taking steps to reduce its office space, the St. Louis Post-Dispatch reports, citing bankruptcy filings.
Law firm leaders remaining at the firm thought they had a deal with the landlord over space, but ownership changed hands and they've been unable to strike a deal with the current landlord. The current landlord filed eviction proceedings, which have been essentially stayed because of the firm's Chapter 11 filing.
A lawyer for the firm told the Post-Dispatch that the firm is financially sound and blamed the landlord for not giving the firm time to move, a claim the landlord disputes. The landlord maintains the firm owes months of back rent.