Friday, January 28, 2011

Jim Ferraro's Cleveland Firm Files For Chapter Miami.

The legal maneuvering continues in the long-simmering dispute between Jim Ferraro and the widow of the ex-partner of his Cleveland based law firm:
Kelley & Ferraro filed for Chapter 11 reorganization on Wednesday, Jan. 26, in a move that partner Tom Wilson said is aimed at resolving the nearly 5-year-old civil litigation pending against it.
The timing was not coincidental, Mr. Wilson said, as Wednesday was the day civil proceedings brought by Lynn Kelley, widow of firm co-founder Michael Kelley, were to resume in Cuyahoga County Common Pleas Court. Mr. Wilson said the bankruptcy filing automatically stayed the civil proceedings.

Currently, it's business as usual at Kelley & Ferraro, Mr. Wilson said. He said the firm filed for bankruptcy protection from creditors to do what's best for its clients.

The petition was filed in the Southern District of Florida, U.S. Bankruptcy Court, in Miami. Partner James Ferraro lives in Florida, and Mr. Wilson said bankruptcy counsel advised Kelley & Ferraro to file there.

Ms. Kelley's lawyer, Bill Wuliger, claimed Thursday that the firm's filing in Florida isn't “kosher” because the firm operates in Cleveland.

The bankruptcy filing is “extremely injurious” to Ms. Kelley and her son, and to the law firm and its clients, Mr. Wuliger contended. He called it an “atomic bomb on the Kelley family.”

“We're angry, we're upset, but we will survive and we will eventually, I believe, rectify the wrongs that have happened,” Mr. Wuliger said. 
 The case is before Judge Mark and you can see the docket here.

I hope Jim at least got a nice parking spot!


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