Dec 20, 2014

A Few Details On The Binder and Binder Bankruptcy

     A few details are emerging about Binder and Binder's bankruptcy. The company, which is not a law firm, listed its assets and liabilities as being between $10 million and $50 million. The biggest creditor was Stellus Capital Management at $16.7 million. However, the company had to get a secured loan of $23 million from US Bank and Capital One to stay in business.

1 comment:

Anonymous said...

You said Binder and Binder is not a law firm. However, my understanding is that some of their representatives are licensed attorneys. Is it ethically ok for lawyers to practice law with non-lawyers?

I don't have it in front of me but I remember seeing a Florida ethics opinion where a lawyer wanted to work for a non-lawyer social security firm as an employee and the opinion stated that it was prohibited. The basis of the opinion was that representing claimants before social security was the practice of law. Since the lawyer is practicing law, he is subject to the Disciplinary Rules and the fact that non-lawyers can also practice before SSA does not affect this.