The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Thelen Reid Brown Raysman & Steiner held a crisis meeting today (28 October) to discuss the dissolution of the firm.
The US firm’s 13-member partnership counsel called the meeting to discuss dissolution with the full partnership.
A Thelen spokesman confirmed: “The meeting has been called by the firm partnership counsel to recommend a vote for dissolution. The vote will not take place today and partners will have seven days to return their ballots.”
The meeting, taking place via conference call in all Thelen’s offices, comes after reports that firm chairman Stephen O’Neal is in talks with DC firm Howrey with a view to defecting to the firm along with 30 Thelen lawyers.
Since the beginning of 2008, Thelen has lost more than 100 lawyers. Last month (29 September), The Lawyer reported that Pillsbury Winthrop Shaw Pittman had snared Thelen’s entire China practice group from its Shanghai, Washington DC and San Francisco offices. The Lawyer also reported that Thelen was holding merger talks with US rival Nixon Peabody.
A source close to the firm said: “When talks fell through with Nixon Peabody it really signified a shift in the firm and its future. There have been a lot of defections and it has really snowballed this year.”
If, as expected Thelen does dissolve it will be the second major US law firm to collapse in less than a month, after Heller Ehrman announced its dissolution in September.