Weil Gotshal & Manges LLP, the restructuring powerhouse that led Lehman Brothers, Enron and General Motors through bankruptcy, told Law360 Pulse Wednesday that the firm is preparing to wind down operations.
By Daniel Moritz-Rabson, Alex Wittenberg and Aebra Coe
Weil Gotshal & Manges LLP, the restructuring powerhouse that led Lehman Brothers, Enron and General Motors through bankruptcy, told Law360 Pulse Wednesday that the firm is preparing to wind down operations.
A California bankruptcy judge Wednesday signaled he would allow the Archdiocese of San Francisco to solicit votes on its $395 million Chapter 11 plan, after the debtor agreed to include in its disclosures a statement summarizing how the plan would affect the claims of abuse survivors.
A Georgia federal judge has allowed a trustee who has accused BakerHostetler and an Atlanta-based attorney of legal malpractice to file an amended complaint after the trustee asked to add claims of Georgia RICO Act violations.
The U.S. Trustee's Office said a Delaware bankruptcy judge must appoint a consumer privacy ombudsman to review the sale of artificial intelligence entertainment platform Character Technologies' assets, saying its Character.AI platform includes identifiable information from users' chats.
A former executive at Eletson Gas urged a New York federal court to reverse an arrest warrant for contempt and a $726,000 judgment imposed on him, arguing he was never properly served and had ceased working at Eletson at the time of the alleged sanctionable conduct.
Though Spirit Airlines' first Chapter 11 plan was broadly supported and moved swiftly through confirmation, it avoided using many of the Bankruptcy Code's most powerful operational tools in favor of a "business as usual" approach, which may have led to the airline's second bankruptcy and ultimate wind-down, say attorneys at Cleary.
The tendency of generative artificial intelligence models to tell users what they want to hear can reinforce attorneys’ confirmation bias when testing the strength of arguments, and it can’t simply be prompted away — but a few practices can help mitigate it, says Michael Ott at Ice Miller.
The stunning collapse of Weil Gotshal & Manges LLP is the talk of BigLaw this week, as those in the industry grapple with how the powerhouse Wall Street firm could implode so quickly.
Weil Gotshal & Manges LLP leaders may have every reason to agree to an out-of-court wind-down, but dissolving such a storied law firm, which announced Wednesday it intends to shut down following an exodus of attorneys, is not as simple as a handshake among partners, experts said in interviews with Law360 on Wednesday.
Troutman Pepper Locke LLP and Baker McKenzie experienced data breaches last month as a result of social engineering attacks, according to notices submitted this week to the attorneys general offices in California and Texas.
Personal injury giant Morgan & Morgan PA has asked a Florida federal court for a preliminary injunction to block a Sunshine State bar rule that forbids celebrity endorsements in attorney advertisements.
