The Firms

March 29, 2010 11:13 AM

More Partners Leave, Ruden McClosky Insists Everything Is Fine

Posted by Zach Lowe

Four partners, including a bankruptcy rainmaker, are leaving the Miami office of Florida firm Ruden McClosky this week, meaning the firm has now lost nearly 60 lawyers and two full offices in the last year, according to the Daily Business Review, an Am Law Daily sibling publication.

And just as it did after each earlier wave of partner defections, Ruden higher-ups are insisting that the firm is fine and will remain open, the paper reports. The firm's Miami office is now down to six attorneys from a high of 30, though Ruden management told the DBR it is committed to staying open in Miami and will work to restructure its lease arrangements with its landlord. The DBR says the loss of Larry Gordich, chair of Ruden's bankruptcy and creditors' rights practice, will be a tough blow; Gordich's practice is thriving, and he is taking two other key partners with him to start his own firm, the paper says. 

The group was among a faction of lawyers who were upset when the firm asked them last month to sign personal guarantees to help Ruden renew its credit line with Wachovia bank, the DBR says. 

In the last three months, Ruden has lost its entire Sarasota and St. Petersburg offices to the New Orleans-based firm Adams and Reese. Another group left for Fox Rothschild, while other lawyers have left to start their own firms, according to the DBR and our prior reporting

Ruden also disclosed that it recently laid off 20 secretaries and support staffers this month, the DBR reports. Carl Schuster, Ruden's managing partner, says the layoffs will bring the firm's lawyer-to-secretary ratio up to industry standards, the DBR reports.

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