LeClairRyan, once the fifth-largest law firm in Virginia, filed for Chapter 11 bankruptcy protection on Tuesday.
LeClairRyan filed its petition in federal bankruptcy court in Richmond on Tuesday, just five weeks after the 31-year-old firm announced that it would shut down.
In the filing, LeClairRyan estimates it has assets and liabilities ranging from $10 million to $50 million. The firm said it owes money to between 200 and 999 creditors.
The law firm’s secured creditors include investment fund ABL Alliance and ULXP, a legal staffing joint venture started in 2018 between New York-based legal services provider UnitedLex Corp. and LeClairRyan. ULXP hired more than 300 administrative and legal support professionals from LeClairRyan, according to the filing.
