Partners Vote to Dissolve Weil, Gotshal and Manges Law Firm
Partners at Weil, Gotshal and Manges voted overwhelmingly to dissolve the nearly century-old law firm following a succession crisis and loss of key talent.
Weil, Gotshal and Manges partners voted 97 percent in favor of a plan to dissolve the nearly century-old law firm. The decision follows months of instability marked by a succession crisis and the departure of key rainmakers to larger competitors, including Paul Weiss and Kirkland & Ellis, the latter of which recently hired 40 lawyers from the firm.
A failed merger attempt last month preceded the leadership's recommendation to shut down. To manage the wind-down, a three-person committee consisting of Robert Carangelo, Paul Wessel, and Trish Ferrari will oversee the dissolution process, with Chairman Barry Wolf serving as an advisor.
Alix Partners and C Street Advisory Group have been appointed as co-chief restructuring officers to facilitate the closure of the organization.
