Bankruptcy Law Firm Urged To File For Chapter 11

In an ironic twist, defunct law firm Jacoby & Meyers Bankruptcy LLC is being urged to seek Chapter 11 bankruptcy protection by a group of creditors. In December 2013, just a year and a half after it was created – as an alliance between Jacoby & Meyers LLC and the bankruptcy practice of Chicago lawyer Thomas Macey – the firm abruptly shut its doors, displaying a “total lack of disclosure and transparency,” according to a filing by creditors. They filed an involuntary bankruptcy petition against Jacoby & Meyers in March, and said the firm’s trustee is not going far enough.