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Picking up the pieces after a firm fracture or break-up

By Thomas Berman, Principal, Berman & Associates 

21 February 2012

By Thomas Berman, Principal, Berman & Associates 

The period beginning with the Lehman Brothers bankruptcy and the subsequent economic meltdown has not been particularly kind to a large number of law firms in the US and around the world. Certainly some have continued unabated in their practice (depending largely upon the resiliency of that practice and what its areas of focus may be).

Some law firms have been unable to manage very well 
in this period of time and have consequently shut their doors, been absorbed, had their ‘best and brightest’ hired away or had senior lawyers simply retire until there was nothing recognisable left of the firm.

Of course, when a firm fractures or implodes, it 
usually relates in some fashion to the issue of...

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