Heller's Last Laterals Took $7 Million
Heller Ehrman paid out more than $7 million to 35 departing or retiring partners in 2008, a Friday bankruptcy filing by the firm shows. The filing paints a picture of Heller's shrinking capital coffers as a steady stream of partners left in 2008. The departures led to the firm's breaking a loan covenant and having its accounts frozen, which precipitated its collapse. The document also shows who Heller's creditors could target as they seek to be paid through Heller's bankruptcy.
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