Majority of Wiley Rein McLean VA office to spin off
Wiley Rein announced last week that, as a result of its strategic plan, the firm would “spin off” its eight-attorney bankruptcy group. Unspoken in the announcement was that this move would gut their McLean VA office, leaving only three attorneys representing different practice areas to hold down the fort. Does Wiley Rein intend to move some of its DC attorneys to the office? Fill it with laterals who meet the firm’s strategic plan for other practice areas than bankruptcy? Or close it completely?
Wiley Rein is casting off its bankruptcy group
Via ABA journal, by Debra Cassens Weiss
Nov 07, 2014
Wiley Rein is spinning off its eight-lawyer bankruptcy and restructuring group, citing the anticipated needs of clients and its strategic plan.
Wiley Rein managing partner Peter Shields confirmed the move in a statement. First to report the news were Above the Law and the Washington Post, according to an Am Law Daily story.
“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/of counsel retreat,” Shields said. “We all value the bankruptcy team, and we hope to work collaboratively with them in the future.”
Jason Gold, chair of the bankruptcy group, also issued a statement. “As an independent practice dedicated to offering bankruptcy and restructuring services, we will be able to provide flexible alternative fee options and greater value to our bankruptcy clients,” he said. “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.”