Why more failing law firms are choosing a death of dissolution rather than insolvency

As Clydes takes an 80-strong team from now-defunct US law firm Sedgwick, more failing firms are breaking up to avoid a costly bankruptcy

The end has come for Sedgwick, which announced in November its plans to dissolve at the end of 2017, but if all goes according to plan, the firm will not head into bankruptcy court.

Instead, Clyde & Co has agreed to hire a number of Sedgwick lawyers and staff members post-dissolution, while other teams have joined firms such as Kennedys, DAC Beachcroft, Duane Morris and Steptoe & Johnson.

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