1,000,000 + Attorneys and Legal Staff - Legal employers hire more people on LawCrossing than any other site.
New Legal Services Center for Baker & McKenzie to Open in Belfast
New Legal Services Center for Baker & McKenzie to Open in Belfast
Litigation Attorney Ryan C. Berry Joins Greenberg Traurig
Litigation Attorney Ryan C. Berry Joins Greenberg Traurig
Mayer Brown JSM Announces Expansion in Bangkok
Mayer Brown JSM Announces Expansion in Bangkok
Dinsmore & Shohl LLP Trying to Find Larger Office Space in Cincinnati
Dinsmore & Shohl LLP Trying to Find Larger Office Space in Cincin...
Your profile matches an open legal position. Apply now!
Job Listings

Study Says That Heenan Blaikie Could be First of Many Canadian Firms to Close

The Legal Post was told by a managing partner from a law firm in Canada that a recent study from Deloitte Canada shows that at least one other firm in the country could close within the next year.

This would follow the collapse of Heenan Blaikie. Unnamed sources reported to the Legal Post that the unnamed firm that could close is based in Toronto, but is a national firm.

The managing partner spoke on the condition of anonymity, saying, “would not be surprising if other firms will be winding up.”

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


The source said that the study from Deloitte took place over an eight-month period and it involved the legal industry. It was conducted by Monitor Deloitte, which is the management consulting and strategy portion of the firm.

A spokesperson from Deloitte told Legal Post, “our policies and code of professional conduct prohibit us from discussing any information about our clients, or the work we do for them.”

The closing of Heenan Blaikie was announced on February 5 despite having 575 lawyers employed at the firm’s offices across Canada and in Paris. What caused the collapse of the firm has yet to be released to the public. The firm did have $75 million in profit at the time that it closed. It has been reported that the transactional work of the firm dropped by 85 percent in the past couple of years. This led to partners being asked to take a 15 percent pay cut.

As of right now, some 500 lawyers from Heenan Blaikie have been hired by other firms.

Study Says That Heenan Blaikie Could be First of Many Canadian Firms to Close by

Tagged: , ,

Posted by on March 13, 2014. Filed under Law Firm News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Real Estate Associate
USA-TX-Dallas

Our client is a north Dallas law firm who seeks a Real Estate Development Associate.  The ideal candidate will have 2-4 years law firm experience concentrated in representing real estate develope...