Wall Street law firm that handled Enron, Lehman Brothers bankruptcies plans to dissolve after nearly a century
Weil, Gotshal & Manges, one of the best-known U.S. corporate law firms, is heading toward closing after nearly 100 years, a spokesperson told FOX Business.
The New York-based firm employs about 1,200 lawyers worldwide, brings in more than $2 billion a year, and has handled some of the largest bankruptcies in U.S. history, including Enron and Lehman Brothers.
"Following a careful review of strategic alternatives, the Firm's Management Committee has recommended to the partnership that the Firm pursue an orderly wind-down," the spokesperson said, adding that partners are expected to vote in the coming days and the firm will keep serving clients during the months-long wind-down.
Key points
- About 1,200 lawyers; $2B+ annual revenue
- Partners to vote on wind-down in coming days
Summary written by Readthrough from the original article. The full story, with photos and any updates, is at Fox Business.
