Honolulu law firm Lynch Ichida Thompson & Hirota has filed for Chapter 11 bankruptcy protection, and saw all but one of its attorneys leave the firm this week.
The general practice and civil litigation firm, which employed seven attorneys, filed for bankruptcy reorganization on February 17th.
Since then, partners Wesley Ichida, William F. Thompson III and Maile Hirota have left the firm. Two of them have started new firms.
The bankruptcy filing, signed by Paul A. Lynch as president of the firm, lists Lynch Ichida Thompson & Hirota’s assets at more than $500,000 and debts at more than $300,000.
Posted by Erik Even
on February 27, 2009. Filed under Home,Law Firm News,Legal News.
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Departures from a law firm are complicated for any attorney, but for a partner the details can be quite intricate. Please note: First and foremost, the interests of your clients should be absolutely paramount. Consultation with existing ABA and state bar guidelines on firm transition is suggested. Below you will find a list of important considerations for partners when changing firms. You will also find suggested practices for maintaining relationships, as well as obligations from a legal and moral perspective. Before You Begin to Meet with New Firms It’s important to review any existing employment agreement with your former firm to make sure you are in compliance with all provisions (pay particular attention to provisions regarding notice). Practice discretion with your existing firm until you [...]
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Anonymous
August 25, 2009 at 7:24 pm
Paul A.ynch was my college roommate and I hope he is ok. Sounds like trouble in Hawaii;…maybe associated with the economy that Hawaii usually relies on.
Paul;…write to me. Matthew Mills