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Home / Opinion Digests / Law Firm Did Not ‘Convert’ Purchase Deposit (access required)

Law Firm Did Not ‘Convert’ Purchase Deposit (access required)

The Richmond U.S. District Court says a bankruptcy court did not err in holding that debtor business’s counsel did not convert $500,000, which appellant deposited with counsel as part of an asset purchase agreement; the law firm’s retention of the deposit was proper pending the bankruptcy court’s resolution of competing claims of ownership. According to the ...

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