Citibank Tries To Push Howrey Into Ch. 7

Law360, New York (September 16, 2011, 6:12 PM EDT) -- Citibank NA asked a California bankruptcy judge Friday to convert the Chapter 11 liquidation of Howrey LLP to Chapter 7 and require a trustee to oversee the wind-down, citing an impasse in negotiations between the now-dissolved law firm and its biggest creditor.

After allowing the firm to use about $5.8 million in cash collateral in June, Citibank says it is losing confidence in Howrey's ability to collect outstanding client bills, which would secure much of the $49 million the firm still owes the bank.

“Despite the...
To view the full article, register now.




Case Information

Case Title

Howrey LLP

Case Number



California Northern

Nature of Suit

Date Filed

April 11, 2011

Law Firms


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.