“Philadelphia is a city brimming with history, and as a century-old institution, Wolf Block is an important part of that tradition. Wolf Block lawyers have been at the forefront of litigation that has changed the face of Philadelphia. In addition, Wolf Block has been an outstanding corporate citizen that has contributed to the common good, producing judges of state and federal courts, former city officials, chancellors of the Philadelphia Bar Association and the Pennsylvania Bar Association and even a president of the American Bar Association.
“This is a difficult day for Philadelphia’s lawyers, reminding us that no one is immune to current economic challenges. Despite the loss of this venerable law firm, however, we remain confident that Philadelphia’s legal community will weather this storm and emerge stronger as a result.”
“As Philadelphia lawyers, we have a responsibility to ensure continued access to justice.
“I want to assure citizens that Philadelphia’s legal community will survive this economic crisis, too, and that the Philadelphia Bar Association will continue on its mission of promoting access to justice.”
WolfBlock will remain in the practice of law for several months to protect the interests of its clients, employees and creditors. The decision to unwind was reached in view of a confluence of unfavorable factors: the economic recession, especially in the firm's core real estate practice; the constriction of credit occasioned by the ongoing banking crisis; and the intended and anticipated departure of significant partners and practices.