Weil partners green light closure of legal powerhouse after almost a century

Partners at Weil, Gotshal and Manges have voted to dissolve the US law firm, ending months of uncertainty about its future. The decision is striking because the Wall Street firm generated more than $2bn in revenue last year, and its collapse has sent shock waves through the legal industry.

A three-member committee will oversee the dissolution, taking control after the board recommended closure on 28 October. Weil had considered merging with another US firm, but speculation about its future grew as senior partners left for competitors, including Michael Hickey and Christopher Machera in August and London co-managing partner David Avery-Gee in September.