The 95-year-old law firm Weil, Gotshal & Manges is preparing to dissolve following a formal vote by partners on Tuesday.
Once a titan of corporate restructuring with $2.1 billion in 2025 revenue, the Manhattan-based firm is now liquidating after a failed merger and a wave of partner defections.
The collapse of a legal institution of this scale is rare, marking one of the largest dissolutions in the history of the industry. The firm, which employed approximately 1,200 attorneys across 16 global offices, has officially appointed a three-person committee to oversee an orderly, out-of-court liquidation process.
The firm’s decline accelerated in October following the collapse of merger talks with another law firm and the withdrawal of Ramona Nee, a key private equity partner, from her expected role as successor to long-time leader Barry Wolf, Boursorama reported. As the firm’s stability wavered, more than 30 partners departed in October alone, triggering a self-reinforcing cycle of exits that drained the firm of its core revenue drivers.
As recently as 2009, during the high-profile General Motors bankruptcy, Weil’s proximity to its clients was legendary; its attorneys worked out of the same Manhattan building as the automotive giant, according to Le Monde.
The dissolution process is being managed with professional precision to avoid the volatility of a court-supervised bankruptcy. The firm has retained AlixPartners for restructuring, the C Street Advisory Group for strategic guidance, and Davis Polk & Wardwell to manage the legal complexities of the wind-down, Boursorama reported. If the firm remains solvent, it intends to satisfy all obligations to landlords, lenders, and employees without judicial intervention.
Competitors, including Gibson, Dunn & Crutcher, Kirkland & Ellis, and Sidley Austin, have been aggressively recruiting Weil’s remaining talent.
The firm has assured its remaining staff and associates that payroll will continue for 90 days, with year-end bonuses promised for 2026. However, Weil's specific liabilities to partners under the firm’s existing partnership agreement are still unknown as of November 11, 2026.
| Metric | Data Point |
|---|---|
| 2025 Revenue | $2.1 Billion |
| Total Attorneys | ~1,200 |
| Dissolution Vote Date | November 10, 2026 |
The firm’s trajectory mirrors the 2023 dissolution of the law firm Stroock, which also suffered from a sustained wave of partner departures before ultimately reaching an agreement with creditors, Boursorama reported. Unlike the more chaotic collapses of firms like Dewey & LeBoeuf in the past, Weil’s current liquidation is designed to be an orderly exit.
For the firm’s global clientele—which includes entities like Apple, Goldman Sachs, and Dow Chemical—the primary concern is continuity of service.
Barry Wolf, the firm’s long-time leader, is expected to serve as a consultant to the liquidation committee through the end of the year.
