Wolf Block's partners voted on Monday to dissolve the law firm. There is no indication the firm is in dire financial straits, though it was said to be seeking extensions of its line of credit and had been looking for a merger partner for more than two years. A statement issued by the firm cited the recession, especially in its 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.
Credit Woes, Failed Merger Bids Take Toll on Wolf Block
The Legal Intelligencer
March 24, 2009