Law Firm Dissolutions: Both In and Out of Bankruptcy
The Challenge
Law firm dissolutions introduce complex financial and operational pressures—particularly around the conversion of receivables and work-in-process—that full-time employees have rarely experienced.
Uncertainty, shifting client relationships, and competing priorities can delay progress and reduce realization without a structured, experienced approach.
Our Role
On-Site Associates provides specialized receivables resolution expertise in support of dissolutions, restructurings, and wind-downs.
We work with firm leadership, trustees, and other stakeholders to execute disciplined strategies for converting receivables into realized value—while navigating the sensitivities inherent in attorney transitions and ongoing client relationships.
Proven in Complex Environments
- ▸Selected to resolve receivables portfolios in 17 law firm dissolutions, including Dewey & LeBoeuf LLP
- ▸Experience working alongside firm leadership, finance teams, and restructuring professionals
- ▸Proven performer in numerous complex, time-sensitive environments
Our Approach
Early Intervention
Implementing a structured strategy while key personnel, systems, and institutional knowledge remain in place.
Retention of Key Staff (Critical Success Factor)
Retaining key personnel is critical to preserving continuity and maximizing realization—particularly where institutional knowledge directly impacts outcomes.
Professional Due Diligence
Working directly with attorneys to understand client relationships, assess collectability, and inform resolution strategy.
Structured, Firm-Aligned Execution
Developing and executing strategies collaboratively, with clear parameters and oversight.
Supporting Capabilities
Objectivity and Alignment of Interests
Law firm dissolution environments often create competing pressures between the dissolving firm's need to resolve outstanding receivables and transitioning attorneys' desire to preserve client relationships as they move to new firms. In our experience, the most effective outcomes are achieved through resolution strategies that preserve client and attorney goodwill while creating a practical pathway toward payment and portfolio resolution.
Reporting and Visibility
Clear, ongoing insight into account status, strategy, and results.
Flexible, Performance-Based Structure
Engagements that are cost-effective and priced with the size, composition, and objectives of each dissolution scenario in mind.
What We Deliver
- ▸Accelerated conversion of receivables and work-in-process into realized income
- ▸Structured execution in a complex, time-sensitive environment
- ▸Coordination across stakeholders and client relationships during transition
- ▸Clear visibility into portfolio status and performance
- ▸A disciplined, experienced approach informed by prior dissolution engagements