Bankruptcy Follows Uprooting of Local Firm

     ST. LOUIS (CN) – Moser & Marsalek, an 87-year-old Missouri law firm, has filed for bankruptcy protection.
     The firm informed the Eastern District of Missouri that 19 of its 29 attorneys have departed in the past two years.
     Despite having successfully negotiated a lease modification with its previous landlord to reduce the size of its space, the landlord sold the premises to 200 North Broadway Holdings before that agreement could be put in writing, according to the nine-page motion.
     Moser & Marsalek says the new landlord refused to negotiate any modifications, forcing it to file for Chapter 11 protection and stave off eviction.
     Greensfelder, Hemker & Gale is representing Moser & Marsalek in the proceedings.
     Attorney Eric Peterson told the St. Louis Post-Dispatch that “this Chapter 11 filing is purely a group of lawyers protecting their clients.”
     “The firm is financially sound and continues to house some of the best lawyers in St. Louis,” Peterson added.
     200 North Broadway Holdings filed a rent-and-possession claim against Moser & Marsalek in St. Louis County in April. That case has since been transferred to St. Louis City.
     That complaint alleged that Moser & Marsalek owed more than $140,000 in rent, according to the Post-Dispatch. The Chapter 11 filing effectively stays that case.
     Moser & Marsalek, founded in 1925, claims it has between 50 and 99 creditors with liabilities between $1 million and $10 million. The firm says it has assets between $1 million and $10 million.

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