Ed. note: Welcome to our daily feature, Quote of the Day.
It’s the equivalent of managing hundreds of divorces because people get really emotional. A lot of these folks could never imagine what’s happening now.
— Al Togut, who served as lead counsel to Dewey & LeBoeuf in its bankruptcy, in comments given to Reuters about the emotional toll of dismantling a law firm. Weil plans an “orderly wind-down” outside bankruptcy, but sorting out partners’ financial obligations and entitlements can still take years. Breaking up is hard to do, especially when everyone involved is a lawyer.
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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