Howrey LLP Moves To Convert Involuntary Bankruptcy Case to a Voluntary Chapter 11; Effort To Transfer the Case from San Francisco to Washington, DC To Proceed
Howrey LLP (Howrey) has filed a motion to convert the involuntary bankruptcy petition that was filed by three of the firm's small creditors from a Chapter 7 involuntary proceeding into a Chapter 11 voluntary proceeding. This will not affect Howrey's motion to change the venue of the proceedings from San Francisco to the District of Columbia. The Bankruptcy Court in San Francisco is scheduled to hear the venue motion on June 29, 2011.
Howrey has concluded that Chapter 11 will give better order to the wind-down process and provide the clearest and quickest path to satisfying all of the firm's creditors.
Howrey has retained the Washington, DC-based law firm Wiley Rein LLP as its lead counsel and Richmond, VA-based Protiviti Inc. as its financial advisor in the Chapter 11 case.
