Houston Law Firm AkinMears Files for Bankruptcy, Over $200 Million in Debt to Litigation Funders
Houston, TX — AkinMears, a Houston-based law firm specializing in mass tort litigation, has declared Chapter 7 bankruptcy. The firm reported outstanding debts exceeding $202 million to two prominent litigation financiers. The legal filing, lodged in the U.S. Bankruptcy Court for the Southern District of Texas on January 23, has been placed under the jurisdiction of U.S. Bankruptcy Judge Marvin Isgur. AkinMears disclosed owing $115 million to Virage SPV 1 and an additional $86 million to Rocade Capital, two entities that have historically provided financial backing to law firms engaged in mass tort claims. Virage … Read more