‘Mass Lateral’ Moves No Silver Bullet For Beleaguered Firms

Law360, New York (November 22, 2017, 3:26 PM EST) -- BigLaw firms at risk of insolvency may find plenty to like about a “mass lateral” move to a competitor in lieu of a full wind-down, one of several routes that Sedgwick LLP has considered in the lead-up to its planned closure. However, choosing to walk away from the business rather than seek bankruptcy carries its own set of complications, as evidenced by the ongoing fallout from Novak Druce’s dissolution.

In that deal, 44 partners, associates and counsel from the IP-focused Novak Druce Connolly Bove & Quigg LLP headed to Polsinelli PC last year, creating a career path for the majority but also...

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