When Latham & Watkins partner Peter Gilhuly was contacted by Howrey managing partner and chairman Robert Ruyak last December to advise the troubled firm on its options, dissolution wasn’t part of the initial discussion.
“Very few firms think they’re going to dissolve when you talk to them, so they don’t hire you for that purpose initially, although they’re aware of it as a possibility down the line,” Gilhuly says. “Typically what happens is they have an issue with their bank and they’re looking for advice on a broad scale of issues.”
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