06 February 2014

Heenan Blaikie to be wound up

A top Canadian law firm is to fold after partner profits dropped and a string of departures followed. Its lawyers have included former prime ministers and members of the cabinet.

By Neasa MacErlean

Canadian law firm Heenan Blaikie is to be wound up after a string of departures.The firm, which was a political powerhouse in its day, housing retired politicians including Pierre Elliott Trudeau and Jean Chretien, made its announcement last night. It comes after employees in the Montreal office were asked to pack up on Tuesday night. According to a statement, partners made the decision following ‘an in-depth analysis of the available restructuring options in the current context of Canada’s legal market.’ It went on to say that an ‘orderly wind-up will make it possible to continue serving the Firm’s clients without interrupting or disrupting service and to ensure a harmonious transfer of their files to other firms.’

Departures

The management had recently announced that profits had fallen per partner by 10 to 15 per cent. A number of partners exited the firm, the latest being  eight employment lawyers joining Fasken Martineau Damoulin in Montreal and another five in Toronto. Dentons Canada has also recruited five real estate lawyers and two financial lawyers from the firm. Source: The Globe and Mail

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