The ever-evolving landscape of the legal industry has witnessed numerous ebbs and flows. A case in point is the Schnader Harrison Segal & Lewis law firm, which has a 90-year legacy, that is gracefully bowing out, making efforts to steer clear of bankruptcy court during its wind down process. Known for excelling in a broad geographic range as well as in highly specific regional markets, the firm’s reputation, however, could only go so far.
In contrast, LeClairRyan is still the subject of litigation, four years after its announced dissolution – underlining the complex and sensitive process that winding down a law firm can entail.
For more detailed coverage of the topic, follow this link to the original Law.com article by Dan Packel. Please note that the full article may be paywalled and access could be restricted.