New York-headquartered firm, founded in 1931, planned to join forces with Willkie Farr & Gallagher
Bloomberg Law and Reuters reported that Weil, Gotshal & Manges LLP intends to wind down and dissolve its operations following news that merger discussions with fellow New York City-headquartered law firm Willkie Farr & Gallagher LLP had fallen through.
“Following a careful review of strategic alternatives, the firm’s management committee has recommended to the partnership that the firm pursue an orderly wind-down,” stated a spokesperson for Weil. “During the wind-down process over the coming months, the firm will continue serving clients with the dedication and excellence that have defined it.”
Per the spokesperson, Weil’s partners may vote on this recommendation in the days that follow.
Bloomberg Law reported that a practice group head at Weil advised associates on Oct. 27 to seek employment somewhere else while still hired at the firm.
Someone informed about what lawyers learned of Weil’s plans on Oct. 28 stated that associates and staff could expect to get salary and benefits for 90 days, as well as bonuses close to the end of 2026 if they stayed on with the firm.
The further impacts of the planned wind-down on Weil’s workforce remain unknown.
Lead-up to wind-down announcement
According to Bloomberg Law, earlier this summer, a number of private equity partners at Weil left for competitors Paul, Weiss, Rifkind, Wharton & Garrison LLP and Simpson Thacher & Bartlett LLP.
Reuters reported that two Weil partners based in London departed for Sullivan & Cromwell LLP, with further lawyers moving to other firms.
Per Bloomberg Law, Weil started hinting that it was searching for a replacement for Barry M. Wolf, its executive partner and management committee chair. Beginning in late 2024, multiple members of Weil’s management committee left or planned to depart from the firm.
In September, Michael J. Aiello, formerly the corporate department chair and a mergers and acquisitions partner at Weil, shared that he would be trading Weil for Cravath, Swaine & Moore LLP. Reuters reported that Aiello brought five partners along with him.
According to Bloomberg Law, Aiello and six Weil litigators have been acting for The Kroger Co. in proceedings against Albertsons Companies, Inc. arising from the two American retailers’ unsuccessful US$24.6 billion merger.
Weil announced in March that Ramona Y. Nee – Weil’s co-managing partner, co-head of its US private equity practice, and co-managing partner of the Boston office – would replace Wolf at the firm’s helm in January 2027. However, she decided not to take over for Wolf.
After its intended merger did not push through, Weil brought in fellow NYC-headquartered law firm Davis Polk & Wardwell LLP for restructuring assistance.
According to someone with information on the matter, Weil has retained AlixPartners, a financial advisory and consulting firm, to help with the wind-down.
About Weil, Gotshal & Manges
Since its founding in 1931, Weil has established a reputation in the practice areas of bankruptcy, restructuring, corporate takeovers, and litigation.
Bloomberg Law noted that Weil reported almost US$2.1 billion in revenue in 2025, making it one of the 30 biggest firms in the US.
Weil has previously acted in matters involving the bankruptcies of Enron, General Motors, and Lehman Brothers. The firm’s lawyers have also assisted Microsoft.
Other international news stories
The Telegraph reported this month that Thomson Heath Jenkins & Associates – the lead solicitors for the seven celebrities who had brought a privacy action against Associated Newspapers Limited, the Daily Mail’s publisher – had gone bankrupt.
McClenny, Moseley & Associates, a Texas-headquartered law firm that faced fraud allegations and multi-million-dollar fines over “tech-enabled” hurricane lawsuits, filed for bankruptcy in 2024.
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