Deceased lawyer’s law firm assets to be sold to former associate

Throop Law was based at 530 E. Main St. (Michael Schwartz)

Left on his own in the wake of the sudden death of his employer this summer, a local attorney is picking up some of the pieces and launching a new firm.

Stephen Flores last month started Flores Law, a small bankruptcy practice at 530 E. Main St., in the same downtown building and a few floors below Throop Law, where Flores was an associate until the passing in May of firm owner Matthew Throop.

Throop died May 11 at age 47. Obituaries and court records do not list any details of the circumstances of his death.

Throop established the firm in 2014, handling mostly consumer Chapter 13 bankruptcy cases. He was the sole owner of the five-person firm and had no apparent succession plan in place. His death forced the Virginia State Bar to step in and ask Richmond Circuit Court to appoint a receiver to take control of the firm, which had dozens of pending cases. The court did just that and the receiver then put the firm into Chapter 7 bankruptcy to wind down its operations.

Making the best of a tough spot, Flores, who was Throop’s only other attorney, last week struck a deal to purchase some of Throop Law’s assets, including its web domain, the firm’s phone numbers and certain furniture, fixtures and equipment.

Stephen Flores worked for the firm and has since gone out on his own. His new firm is located just a few floors below the former Throop Law office.

His new firm will pay $1,500 for the assets, court records show. The deal still must be approved by the bankruptcy court.

Flores, who went to UVA and earned his law degree at UR in 2017, declined to comment for this story.

Attorney Kirk Vogel of Vogel & Cromwell was appointed receiver of Throop Law. Peter Barrett of Kutak Rock has since been appointed trustee on the Chapter 7 case. The two will continue to work to the keep the shell of Throop Law alive in the near term while combing through documents, making an inventory of cases, tracking its finances and eventually winding down its operations.

Judge Kevin Huennekens is overseeing the case.

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Ben Schultz
Ben Schultz
11 months ago

What! Stephen Flores has his own firm?
Heavens to Betsy! This is the moment I’ve been waiting for.
I’ve been saying for years that Mr. Flores should start his own practice.
This determination and grit of Stephen Flores has never been matched in the history of man.
Whatever you pay him, it won’t be enough for the top tier legal services available in the great country of ours.

10/10 would recommend

Jeremy Halterman
Jeremy Halterman
11 months ago

Can’t believe Stephen has his own firm

Very cool