Biglaw

Struggling Biglaw Firm Begins The Process Of Dissolution

Whatever lawyers are left at LeClairRyan are being encouraged to find new firms.

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If you’ve been following along with the trials and tribulations of the Biglaw firm LeClairRyan, then news that the firm has begun the process of dissolution is not shocking at all. After all, partners have been deserting the firm en masse, including name partner Gary LeClair; their lender has prevented the firm from returning departing partners’ capital contributions; they gave staff WARN Act notice of coming mass layoffs; and they’re being sued for not paying rent on one of the firm’s office and for gender discrimination. So the writing has been on the wall.

Now comes a report that the wind-down process has begun and whatever lawyers are left at LeClairRyan are being encouraged to find new firms. As reported by Law.com:

Firm attorneys have been told a wind-down committee is in the works, sources said, and partners are eyeing a few different law firms where large groups might land. For instance, a group of attorneys is talking with Northeast regional firm Barclay Damon. That firm’s managing partner, John Langan, declined to comment.

The firm’s revenue has also been in decline, from $142 million in 2017 to $122 million in 2018. To stem some of the issues, the firm launched “law firm 2.0” and embarked on a strategic partnership with UnitedLex, an alternative legal service provider. But that hasn’t stopped the onslaught of problems for the firm, and alumni of the firm say the problems go back even further:

Michael Volkov, a white-collar partner in Washington, D.C., who left in 2013, blamed leadership and compensation decisions that long predated the firm’s partnership with UnitedLex. As for what’s unfolding there now, he summed up, “What a disaster.”

LeClairRyan has yet to offer a comment of the firm’s status.

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headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

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