We hope you enjoyed last week, a “relatively quiet week” in layoffs. We’ll see if the relative calm holds as we get closer to the time for firms to make another payroll.
Several sources have said members of the executive committee met Saturday to discuss a possible dissolution of the firm. The matter is said to be set for a full partnership vote as early as Monday. A decision to dissolve the firm would need to be approved by at least 75 percent of the partnership, one source said.
After the jump, the now familiar story of failed mergers as precursors to dissolution.
The Intelligencer reports that Wolf Block has been on the hunt for a merger partner for two years:
It was unable to consummate an intra-city deal with Cozen O’Connor in early 2007 over difficulties in merging the partnership of Wolf Block with the public corporation of Cozen O’Connor. The two firms also had different fiscal years, with Cozen O’Connor working off of a calendar year and Wolf Block ending its year on January 31.
Wolf Block began talks with Florida-based Akerman Senterfitt, another corporation, in early 2008, but those talks failed over what the firms said were conflicts between Wolf Block’s health care practice and Akerman Senterfitt’s insurance practice.
It does look like Drinker Biddle is interested in taking over Wolf’s Delaware office. But the future of the rest of the firm is in considerably more doubt.
We’ll keep you posted.
Wolf Block to Take Dissolution Vote to Partnership, Sources Say [Legal Intelligencer] (subscription)