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Law firm that handled Lehman, Enron bankruptcies plans to wind down
CNN • • business
Key Points:
- Weil, Gotshal & Manges, a nearly century-old law firm known for high-profile corporate litigation, has recommended an orderly wind-down of its operations following a strategic review.
- The firm's partners, who hold voting power, are expected to vote on the closure recommendation in the coming days.
- Weil has a storied history advising major clients like Lehman Brothers during the 2008 financial crisis, General Motors’ bankruptcy, Enron, Microsoft’s acquisition of Activision Blizzard, and AT&T’s DirecTV deal.
- The firm faced challenges including the departure of key partners to rivals and a failed merger with Willkie Farr, contributing to its decision to close without filing for bankruptcy.
- Weil employs around 1,200 lawyers across global offices, but no plans have been announced yet regarding the future of its employees or office locations.
