After more than 50 years litigating some of Louisiana’s biggest cases, leaders of New Orleans-based McGlinchey Stafford PLLC voted to dissolve the firm, according to an email sent to the firm’s 160 attorneys and support staff.
In the email, sent Tuesday afternoon, managing member Michael Ferachi said McGlinchey’s “Equity Members” voted Monday evening to begin to wind down the firm.
“We do not know the date on which we will formally commence a dissolution,” Ferachi said. “When we do, we will let you know.”
He said the firm will be working with a consultant who specializes in winding down law firms in order to “carry this out in the most organized, efficient and graceful manner we can.”
It isn’t clear what was behind the decision to dissolve, which is highly unusual for a well-established, mid-sized firm like McGlinchey with decades of experience and offices around the country.
In a statement Tuesday night, the firm said there was “no single triggering event or definitive action” that prompted the decision.
“This is not because of any specific attorney’s departure, or any individual financial decision or leadership action that led us to this point,” Ferachi said. “This is the result of a combination of market factors, such as lagging collections, compounded with various internal factors over several years.”
The statement said a number of McGlinchey attorneys have recently announced plans to join other firms, adding that “the firm wishes them well in their continued practice.”
A town hall for the firm’s attorneys and staff was scheduled for Tuesday afternoon, with an additional meeting scheduled for Friday to share additional details.
A storied law firm
McGlinchey was founded in 1973 in New Orleans by Carl Schumacher, Dermot McGlinchey, Graham Stafford and Donald Mintz, though it was McGlinchey and Stafford who aggressively grew the firm in the 1970s and 1980s into a regional powerhouse attracting some of the area’s brightest young talent.
Both McGlinchey and Stafford died young — Stafford at age 47 in 1987 and McGlinchey at age 60 in 1993. But the firm they established continued to expand its footprint across the country.
Today, it has 18 offices in 12 states and Washington D.C., and its attorneys are licensed to practice in 36 states, according to its website.
While its offices are mainly clustered in the South, it also practices in various cities on the east and west coasts and boasts experience in 40 areas of the law. Its managing partner, Ferachi, is based in Baton Rouge, as was his predecessor, Rudy Aguilar, though its headquarters remains in New Orleans, where it has occupied two floors of the Pan American Life Center since 2008.
In November, the firm announced the creation of several new administrative leadership positions, including a chief strategy and operations officer, director of legal support, and employee engagement coordinator.
“Our business teams are the backbone of this firm, empowering our attorneys to do their best work through strong workflows, equipment, processes, and culture,” Ferachi said in a statement at the time.
This story has been updated to include a statement from the firm.
