Howrey Closes Early After Citibank Cuts Off Funds

Law360, New York (March 31, 2011, 5:46 PM EDT) -- Howrey LLP was reportedly forced to shut down most of its operations by the end of the day Thursday after Citibank NA withdrew its financing for the dissolved Washington-based firm.

Citibank will no longer authorize payroll for firm employees and partners after Thursday, Howrey told its staff Wednesday in a memo, according to the legal blog Above The Law.

All U.S. offices must close, and employees will be barred from the premises, according to the memo obtained by Above The Law.

While Howrey officially dissolved March...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.