Boutique Investment Bank ThinkEquity To Liquidate In Ch. 7

Law360, Wilmington (November 7, 2012, 8:38 PM EST) -- San Francisco-based investment banking boutique ThinkEquity LLC filed for bankruptcy in Delaware on Tuesday to liquidate its assets, less than a month after shuttering its stock trading operations.

The company, which listed $7 million in assets against $3.2 million of debt in its Chapter 7 petition, began winding down the business on Oct. 17, according to Eliza Sporn Fromberg, a managing director at the firm. It had around 100 employees at the time, she said.

In its petition, ThinkEquity said its former business involved serving as an "introducing broker" and investment adviser to various institutional and individual investors. The investors' funds are...

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