Musical Law Firms? A Curious Debt-Tune Played by the Lawyer for Kyle Rittenhouse

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Rudy Giuliani hired John Pierce’s firm for the Ukraine fiasco in November 2019. Kyle Rittenhouse recently hired John Pierce — a civil, not a criminal lawyer — to defend him against double-murder charges.

Links and screenshots of lawsuits, lawsuits and more lawsuits, as well as a $3,990,772.95 money judgment against John M. Pierce Enterprises and related entities, included in a new must-read “Money Timeline.”

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Amid widespread exposure of concerning financial and other issues, John M. Pierce stepped down from the “#Fightback Foundation;” an outfit raising donations to combat the “radical left,” as well as for the defense of Kyle Rittenhouse. While Pierce stated he has stepped away, there’s been no indication that his firm is not permitted to receive funds from donations; indeed, this change seems primarily a public relations move. Pierce also declared that Pierce Bainbridge P.C. has “zero debt.” Given the severe financial issues surrounding Pierce and related entities, this statement piqued interest. In the spirit of “Information is Knowledge, Knowledge is Power,” below are materials to consider when forming opinions about John Pierce and debt, as well as in forming an opinion on what Pierce’s agenda may be with the #Fightback Foundation and Kyle Rittenhouse.

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Pierce’s September 5, 2020 “no debt” tweet. The full tweet appears in the .

The Money Timeline kicks off around the time that Rudy Giuliani hired Pierce Bainbridge, which was shortly after Rudy pocket dialed a reporter and said: “we need some money.” Before jumping in, some brief helpful background.

The Reported $70 Million Debt

The financial picture of Piece Bainbridge Beck Price & Hecht LLP is not pretty. The firm’s reported debt earlier this year was approximately $70,000,000.00.

The Dire Personal Financial Picture Painted by Pierce

Pierce’s personal finances are also concerning. Pierce’s own Income and Expense Declaration” dated November 7, 2019 (the day after Rudy Giuliani came aboard) is noteworthy. According to the declaration:

  • Pierce owed over $1 million in taxes.
  • Pierce owed his former spouse’s mother $27,000.
  • Pierce owed Citibank $90,000.
  • Pierce had no investment income.
  • Pierce’s assets and cash deposit accounts contained $10,750.
  • Pierce fair market value of real estate and personal property was negative.
  • Pierce’s monthly expenses were $49,581.

Pierce Bainbridge Beck Price & Hecht LLP

At the center of the financial tsunami is Pierce Bainbridge Beck Price & Hecht LLP. The firm was founded in January 2017 and by March 2018 was already on this third name — the prior two were Pierce Sergenian and Pierce Burns. The leaders of Pierce Bainbridge Beck Price & Hecht LLP and their new firms:

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David L. Hecht and Carolynn K. Beck during an interview with Proactive Investors. Hecht was the Pierce Bainbridge Beck Price & Hecht LLP New York Office Managing Partner; Beck was the firm’s General Counsel and D.C. Office Managing Partner.

Under this leadership, the firm suffered a “dramatic disintegration.” It appears the wheels started to come off in October 2019, which is where we’ll kick off the timeline.

The Money Timeline

  • October 16, 2019. Rudy Giuliani pocket dials a reporter and says “we need some money.
  • November 6, 2019. Rudy Giuliani tweets that he’s hired Pierce Bainbridge Beck Price & Hecht LLP for Ukraine.
  • November 7, 2019. John M. Pierce serves an Income and Expense Declaration which appears to show he is broke.
  • November 14, 2019. Litigation funder Virage Capital Management reportedly provides millions in funding to Pierce Bainbridge Beck Price & Hecht LLP. Virage Capital first funded the firm in April 2019; and it has been reported is owed roughly $65,000,000; Virage has said that Pierce Bainbridge defaulted on the debt.
  • November 18, 2019. John Pierce and related entities enter into a cash advance agreement with Slate Advance LLC, whereby $500,000 in upfront cash is provided in exchange for $749,500 in future receivables. Slate Advance eventually sues for failure to fulfill payment obligations. (Note: Article updated on September 19, 2020 to include the dollar amount of future firm receivables.)
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Case Caption for the lawsuit filed by Slate Advance. The full complaint is here.
  • December 9, 2019. John Pierce and related entities enter into a cash advance agreement with West Coast Business Capital LLC, whereby $260,000 in upfront cash is provided in exchange for $387,400 in future receivables. West Coast Business eventually sues for failure to fulfill payment obligations.
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Case Caption for the lawsuit filed by West Coast Business. The full complaint is here.
  • Date Not Available. John Pierce and related entities enter into a cash advance agreement with Creative Capital Funding LLC, whereby hundreds of thousands of dollars in upfront cash is provided in exchange for future receivables. Creative Capital Funding LLC eventually sues for failure to fulfill payment obligations.
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Case Caption for the lawsuit filed by Creative Capital Funding. The full complaint is here.
  • February 18, 2020. John Pierce and related entities allegedly stop making repayments on the West Coast Business cash advance. A remittance or repayment sheet included with the West Coast Business complaint provides details. (The screenshot below indicates on the last line that the repayment withdrawals stopped on February 18, 2020; this is an important date given the next entry for February 19, 2020)
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Remittance / Repayment sheet for West Coast Business advance. A copy of the exhibit is here.
  • February 19, 2020. John M. Pierce Enterprises and related entities enter into a cash advance agreement with Karish Kapital LLC, whereby $2,500,000 in upfront cash is provided in exchange for future receivables. The agreement called for “Daily” repayments of $37,500 until $3,750,000 was paid. Despite this obligation, several months later not a dime had been paid; the New York State Supreme Court entered a $3,990,772.95 money judgment on July 22, 2020 against John M. Pierce Enterprises and related entities. (Screenshots illustrating the terms of the Agreement and of the Money Judgement are below.)
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The Karish Kapital Agreement. The red underlined section shows the financial terms and repayment obligations.
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The Karish Kapital Money Judgment entered against Pierce and related entities by the New York State Supreme Court.
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A screenshot from the New York Law Journal article linked to in the bullet-point above.
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Articles of Incorporation for Pierce Bainbridge P.C.
  • May 21, 2020. The very next day after Pierce Bainbridge P.C. is formed, a UCC filing is made with Hecht Partners as the debtor. The filing is essentially identical to a UCC filing between Virage Capital and Pierce Bainbridge, which suggests Virage Capital has now funded Hecht Partners.
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A comparison of a Virage Capital UCC lending filing with Pierce Bainbridge Beck Price & Hecht and a UCC filing with an unidentified lender with Hecht Partners as the debtor illustrates the two UCC filings are essentially identical. The screenshots can be enlarged for clarity.
  • June 24, 2020. Cash advance lender Slate Advance LLC requests the court freeze bank accounts related to Pierce Bainbridge Beck Price & Hecht LLP, Pierce Burns LLP, John M Pierce Enterprises, LLC, JMP Enterprises, or John M. Pierce, up to the amount of $286,411.25. (The request is subsequently withdrawn after Virage Capital says it is first in line to be repaid, since the same collateral was pledged to both lenders.)
  • July 1, 2020. A homeowner sues John Pierce and his client for breach of a residential lease agreement, including a failure to fulfill rent payment obligations. Pierce put the client up in a $1.3 million home for 2 years and paid an alleged monthly rent of $6,600.
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Case Caption for the lawsuit filed by homeowner / landlord. The full complaint is here.
  • August 18, 2020. A legal vendor named Transperfect Legal Solutions sues Pierce Bainbridge Beck Price & Hecht LLP. The complaint says Transperfect had submitted a slew of invoices for work dating back to November 2018, which were never paid and $135,000 plus interest is owed.
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Case Caption for the lawsuit filed by Transperfect Legal Solutions. The full complaint is here.

August 18, 2020. A legal vendor named Kiski Legal LLC files a complaint against Pierce Bainbridge P.C. in Arkansas for failure to pay for approximately $8,300 worth of legal services.

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Case Caption for the lawsuit filed by Kiski Legal LLC. The full complaint is here.

August 25, 2020. The homeowners who filed the lawsuit against John Pierce and his client on July 1, 2020, file a request to enter a default against both defendants for failure to respond to the complaint.

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The default judgment request in full is here.

August 27, 2020. Just two days after the request for the default, and all of the items set forth above, John Pierce appears to actively seek out representation of Kyle Rittenhouse.

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Conclusion

John Pierce’s mess of personal and professional finances has been exposed internationally.

John Pierce owes money all over town.

John Pierce says he stepped down from the #Fightback Foundation; but donations can still flow to John Pierce’s firm and likely “affiliated” firms like Hecht Partners.

John Pierce is publicly declaring with pride that his new law firm, Pierce Bainbridge P.C., the fourth name of a law firm Pierce has led in less than four years, purportedly has “no debt.”

In light of the information above, consider where you come out:

Is John Pierce in this for Kyle Rittenhouse?

Is John Pierce in this for John Pierce?

Is John Pierce in this for something else?

“Information is knowledge, knowledge is power.” It’s a strong saying, another strong one:

“A fool and his money are soon parted.”

#Fightback

Written by

Whistleblower retaliated against by the Rudy Giuliani hired corrupt Pierce Bainbridge law firm. Harvard Law graduate. Sunlight needed. @DonLew87 on Twitter.

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