Am Law 200 firm LeClairRyan filed for bankruptcy yesterday, five weeks after members voted to dissolve in late July, Law.com reported. The chapter 11 filing, in the Eastern District of Virginia, indicates LeClairRyan owes nearly $15 million to two secured creditors: ULXP, the joint venture the firm launched with UnitedLex to handle support services, and the firm’s primary lender, ABL Alliance LLLP. The firm did indicate that it expected to to have some funds left for its unsecured creditors, which it estimated to number more than 200 but less than 1,000. The firm said that both its estimated liabilities and estimated assets fell between $10 million and $50 million.
