Details of a recent deal struck between the LeClairRyan bankruptcy estate and the collapsed law firm’s now-disbarred longtime general counsel will remain a mystery for the foreseeable future, despite objections from one of the biggest creditors in the case, RichmondBizSense.com reported. A judge ruled last week to seal all documents and hearings related to the trustee’s settlement with Bruce Matson. That decision came much to the chagrin of UnitedLex, a legal services firm that is owed $8 million from LCR and is in the midst of litigation with LCR trustee Lynn Tavenner. United Lex argued that to seal the details of the Matson matter harms its position as both a creditor and defendant in the LCR case. UnitedLex, which formed a controversial joint venture with LCR shortly prior to the law firm’s dissolution in 2019, is facing a lawsuit filed by Tavenner accusing it of keeping LCR alive longer than it should have in order to “improperly and unfairly extract millions of dollars from the estate, to the detriment of LeClairRyan’s creditors.” Tavenner is seeking up to $128 million in damages.
