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Heller reloaded: Another One Bites The Dust

Thelen's Partnership Council recommended on Tuesday that the firm's partnership vote to dissolve the firm, informing staff that a dissolution committee had been formed and the firm expected to close on Dec. 1.

In the first indication of where attorneys may land, it appears that about 60 lawyers could end up at Nixon Peabody -- which until recent weeks had been viewed as a potential merger partner for roughly 400-lawyer Thelen.

Management asked the partnership to vote for dissolution during a partner meeting that began at 10 a.m. PDT and lasted more than two hours. The vote will remain open for seven days, and as with Heller Ehrman's similar vote a month ago, dissolution is seen as the only option.

[Quelle]

Die Ex-Hellers helfen den Betroffenen mit guten "Wenn wir das damals gewusst hätten"-Tipps.

Wieder San Francisco. Bisher hat es noch keinen richtigen Dickfisch der Ostküste getroffen, aber die Krise ist ja noch nicht vorüber und wenn die Gerüchte über die teils horrenden Verschuldungsgrade stimmen, war das sicher nicht die letzte Meldung dieser Art.

Zu Dokumentationszwecken hier noch ein Auszug aus der Pressemitteilung der Kanzlei:

"The decision to dissolve the firm was precipitated by several economic factors, including recessionary pressures and numerous partner departures over the past year, both of which have negatively impacted firm revenues. For the past several months, Thelen management has aggressively sought a full firm merger. Unfortunately, the most promising merger opportunity was derailed by conflicts, and all other full firm merger discussions terminated last week."

Full post as published by jurabilis - German bLAWg from Berlin. on October 30, 2008 (boomark / email).