Law Firm Weil Gotshal Votes to Liquidate
The 95-year-old firm will conduct an orderly wind-down after failed merger talks with Willkie Farr and Gallagher.
Updated on Oct. 28, 2026 in Corporate Finance
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Partners at the global law firm Weil Gotshal and Manges have voted to liquidate the business following a review of strategic alternatives. Staff were informed of the dissolution decision during a company call held on Wednesday.
Why it matters
The decision follows unsuccessful merger negotiations with Willkie Farr and Gallagher, prompting the management committee to recommend an orderly wind-down. The firm plans to continue serving its existing clients throughout the closure process.
The 95-year-old firm employs a global headcount of 2,000 staff, including 400 based in London. The entity historically generated an estimated annual revenue of $2 billion.
The players
Weil Gotshal and Manges
This 95-year-old law firm headquartered in New York has maintained a global presence with thousands of legal and administrative employees.
Willkie Farr and Gallagher
This legal entity served as the primary target for merger negotiations that were ultimately unsuccessful.
Michael Hickey
He was a partner who left the firm during the period leading up to the final liquidation vote.
Christopher Machera
He was a partner who departed the firm in August 2026 prior to the dissolution announcement.
The details
Leadership had previously explored strategic alternatives, including a potential merger with Willkie Farr and Gallagher, but those negotiations ended without an agreement. The dissolution follows the departure of partners Michael Hickey and Christopher Machera in August.
Timeline
The firm opened its London office in 1996.
Partners Michael Hickey and Christopher Machera departed in August 2026.
Leadership engaged in merger negotiations throughout October 2026.
Staff were officially notified of the liquidation on October 28, 2026.
Market Landscape
The collapse of Weil Gotshal mirrors the historical scale of the dissolution of Dewey & LeBoeuf, marking a significant exit from the global legal services market. This outcome highlights the intensifying pressure on legacy firms to maintain profitability amid shifting strategic landscapes.
Clients currently engaged with the firm are expected to retain representation during the wind-down period. The dissolution may disrupt existing legal service agreements and require current clients to initiate new arrangements for ongoing counsel.
The takeaway
Large professional services firms must navigate complex merger environments to survive shifting market demands. Employees and clients alike should prepare for transitions as the firm executes its exit strategy over the coming months.
Further reading
For more on firm consolidations, visit Corporate Finance.
Source note: This article includes information reported by CityAM.
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