Weil Gotshal tapped restructuring specialists to assess its options including a possible wind-down
Weil, Gotshal & Manges has tapped restructuring specialists to assess options, including a possible wind-down, the Financial Times reported, citing people familiar with the matter. Davis Polk bankruptcy lawyer Brian Resnick and other Davis Polk lawyers are advising Weil, while earlier merger talks with a rival collapsed. The reports describe a possible course, not a decision to close.
More context
Weil, Gotshal & Manges has tapped restructuring specialists to assess its options, including a possible wind-down, the Financial Times reported Tuesday, citing people familiar with the matter. The FT said Davis Polk bankruptcy lawyer Brian Resnick and other lawyers from the firm are advising Weil on a potential restructuring. Bloomberg Law described Resnick as one of Davis Polk’s top bankruptcy lawyers. Davis Polk had previously advised Weil on a possible merger with a rival firm, but those talks collapsed, according to the report. Weil is also interviewing several financial consultancy firms to analyze its books and help determine a course of action. The articles do not say that Weil has decided to wind down or detail the difficulties behind the crisis.
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Reporting
- Bloomberg Law — Weil Tapped Restructuring Specialists to Assess Options: FT
- Reuters — Law firm Weil hires restructuring counsel amid mounting ...
- @FT on X — Financial Times on X: "Breaking news: Weil, Gotshal & Manges has tapped restructuring specialists to assess options including a possible wind-down, as the crisis deepens at one of America’s largest and most prestigious law firm https://t.co/FockcOfwEq" / X
Verifier’s note
The Financial Times reports that Weil tapped restructuring specialists to assess options including a possible wind-down. Bloomberg Law and Reuters also mention that claim, but attribute it to the Financial Times.