Law.com is reporting that Philadelphia based firm Wolf Block decided to dissolve yesterday after a partners meeting..
Law.com write:
Wolf Block partners met at 1p.m. Monday to discuss the fate of the firm and have issued a statement that they voted to commence an "orderly unwinding of the firm’s business."
"Wolf Block will remain in the practice of law for several months to protect the interests of its clients, employees and creditors," the firm said in a statement. "The decision to unwind was reached in view of a confluence of unfavorable factors: the economic recession, especially in the firm’s core real estate practice; the constriction of credit occasioned by the ongoing banking crisis; and the intended and anticipated departure of significant partners and practices."
Full story at http://www.law.com/jsp/article.jsp?id=1202429314057
We wonder if it’s going to be contagious. Remember before Christmas that as soon as one San Francisco firm went down the rest went like dominoes ( Nixon would have ben pleased). Are we to see the same in Philadelphia.
The US legal landscape is changing so quickly …..
