Goodman and Carr LLP, which once reigned as one of Canada's top tax and real estate law firms, is closing its doors after suffering a steady exodus of partners.
The Toronto firm's partners voted to disband the mid-sized practice of about 90 lawyers at a meeting in its downtown head office Tuesday night, marking what is believed to be Canada's largest law firm closing. People familiar with the session said the vote was triggered by growing uncertainty about the firm's future following failed merger talks with a variety of competitors, including Chicago-based Baker & McKenzie.
After talks with Baker & McKenzie failed last month, people close to Goodman and Carr said some senior partners began to explore moves to other firms. Further departures would have been devastating to a 42-year-old practice that has seen its lawyer strength shrink dramatically from 140 in 2004.
Toronto law firm Goodman and Carr LLP is closing its doors after the firm experienced difficulties keeping and attracting staff.
Eighty-five lawyers and 170 support staff will be affected by the closure of the mid-size firm. Goodman and Carr's 45 partners voted Tuesday night to dissolve the partnership. Staff were told about the closing yesterday morning.
The 42-year-old commercial and litigation law firm will cease formal business operations around June 6.
Donald Carr, one of the firm's founding partners, was awarded the Order of Ontario last year and heads up the firm's personal planning services group. Wolfe Goodman, the other founding partner, died last year.
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