About a year ago, Heller Ehrman partners voted to dissolve the 118-year-old firm, and its collapse offered a few lessons to those watching. "Certainly Heller and the other law firm failures from last year were important lessons in minimizing short-term debt, because in every death story from these law firms, the banks rang the bell," says Morrison & Foerster Chairman Keith Wetmore. And despite dire predictions about the death of Big Law, some say the last year shows the resilience of large law firms.
Lessons Learned From Heller's Collapse
September 21, 2009