Law Firm and Other Professional Partnership Bankruptcies

DAVID M. NEFF Jenner & Block, LLC - General

Abstract:

Bankruptcies of professional partnerships are sparsely documented in case law, and so practitioners confronting such a bankruptcy are forced to meld the firm's partnership agreement with the Bankruptcy Code and the appropriate state partnership law. This article surveys the practical financial, operational, and legal issues involved in Chapter 11 cases and out-of-court dissolutions involving law firms based on the author's experience with two such situations. While not intended to be a comprehensive review of the literature or the issues possibly involved in such a case, the article provides a starting point for a practitioner confronted with such a situation.

Facts on IBM Software

WebSphere MQ (known as MQSeries until 2002) is IBM's Message Oriented Middleware offering.

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