Summary: The law firm of Wiley Rein announced earlier this week that it is separating from its bankruptcy and restructuring group in D.C.
The law firm of Wiley Rein will say goodbye to its bankruptcy and restructuring group, according to a statement from the firm obtained by The Washington Post.
The firm is headquartered in D.C. and employs 278 attorneys between the D.C. office and Northern Virginia.
The group is representing the trustee for the estate of the Truland Group, which is bankrupt.
The statement from the law firm said that saying goodbye to the group is part of the firm’s strategic plan, but did not go into anymore detail about the future of the group.
To read more bankruptcy-related stories, click here.
“This very difficult decision to spin off the bankruptcy practice follows an in-depth analysis of the current and future needs of the firm’s clients, and is aligned with the firm’s new strategic plan that we launched at our recent annual partner retreat,” the firm’s managing partner Peter Shields said in a written statement. “We all value the bankruptcy team, and we hope to work collaboratively with them in the future.”
There are eight attorneys in the firm’s bankruptcy group, with five of them partners, one of counsel and two associates. The practice is chaired by Jason Gold.
“As an independent practice dedicated to offering bankruptcy and restructuring services, we will have enhanced flexibility and the opportunity to provide even greater value to our bankruptcy clients,” Gold said in a statement. “We have enjoyed working with our colleagues at Wiley Rein, as partners and friends, and we look forward to working with them on client matters in the future.”
To read more D.C.-related stories, click here.
What will happen to the members of the Bankruptcy group? Use our poll below to share your thoughts.
Image credit: Wiley Rein