Texas Attorney’s Bankruptcy Shifts from Chapter 11 to Chapter 7 Amidst Massive Debt to Litigation Funders
AUSTIN, Texas — A mass tort attorney has shifted from a Chapter 11 bankruptcy filing to a Chapter 7 liquidation in a move that underscores the significant financial turmoil he faces, reportedly owing hundreds of millions of dollars to litigation funders. This decision marks a significant turn in the attorney’s legal challenges, prompting broader implications for his firm and the clients it serves. The attorney, whose name has not been disclosed, entered Chapter 11 earlier this year, allowing him to reorganize his debts while continuing to operate his business. However, the situation deteriorated, leading to … Read more