The bankruptcy of LeClairRyan in September presents the common tale of a once-thriving law firm that ends up in ruin.
A firm that in its heyday had $163 million in gross revenue, LeClairRyan joins the heap of other Big Law failures that include Dewey & LeBoeuf, Coudert, Thelen, Howrey, Heller Ehrman and others. To explore the similarities in these failures and how other law firms can avoid making the same fatal moves, Law.com business of law reporter and editor Lizzy McLellan talks with Bill Brandt. Founder of DSI Civic, a financial restructuring firm, Brandt has helped handle workouts, turnarounds and restructurings for 36 law firms, including some of those biggies.
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