According to Reuters, Bingham managing partner Steven Browne has told partners that the firm is considering other options besides bankruptcy should the deal not go through. These include merging with a larger law firm or seeking commitments from partners to stay intact as one firm and continue the business. The firm has grown through a series of mergers and has most recently seen 28 partners in the London office leaving to join Akin Gump. It has guaranteed millions of dollars in annual compensation to newly acquired partners which could be problematic, the article says. Source: Reuters
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