Morgan & Finnegan Files For Ch. 7

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Defunct intellectual property boutique Morgan & Finnegan LLP filed for bankruptcy on Tuesday, listing liabilities that include nearly $3.8 million in capital owed to former partners at the firm.

According to the Chapter 7 petition filed in U.S. Bankruptcy Court for the Southern District of New York, Morgan & Finnegan, which dissolved last month, has assets of $6.4 million and liabilities of $10 million.

The filing states that the firm had income of $60.6 million in 2007, but only $37 million in 2008, a fact that...
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