Morgan & Finnegan, the New York IP boutique that dissolved in February after a raft of partner departures, has filed for bankruptcy, according to a Law.com report today. The chapter 7 filing, first reported on the blog Above the Law, came six days after a New York state judge placed the firm into receivership in response to a lawsuit by lender JPMorgan Chase. The boutique, whose revenue declined 38 percent last year, listed $6.37 million in assets and $10 million in liabilities. In 2007, Morgan & Finnegan grossed $60.63 million, and revenue dropped to $36.99 million in 2008, according to filings. The firm’s partners were in merger discussions with Locke Lord Bissell & Liddell by December 2008. Locke Lord ultimately agreed in February to hire 30 lawyers, including 13 partners, with an expectation they could bill $28 million in 2009, according to leaked offer letters. Locke Lord took over Morgan & Finnegan’s space at World Financial Center. JPMorgan is now suing for $4.1 million from the firm because the landlord tapped a letter of credit, and the firm has allegedly not repaid the bank. Morgan & Finnegan lists JPMorgan’s claim as a little less at $3.82 million.