It’s over.
After 147 years of anchoring the New York legal scene, Stroock & Stroock & Lavan officially closed its doors. By the end of 2025, the firm had finished liquidating its assets, ending a saga that left the legal world scratching its head. How does a firm that survived the Great Depression, two World Wars, and the 2008 financial crisis just... vanish?
Honestly, it wasn’t one single thing. It was a slow-motion car crash that suddenly hit a brick wall.
The Fall of an Icon: Why Stroock & Stroock & Lavan Collapsed
You’ve probably heard of "zombie firms"—law firms that look alive on paper but are hollow inside. Stroock wasn't quite that, but it was getting wobbly. For decades, they were the "real estate people." If you were doing a massive deal in Manhattan, you called Stroock. But being a one-trick pony is dangerous.
The trouble really started with a pension.
Most modern firms moved away from unfunded pension plans years ago because they're a nightmare for mergers. Stroock, however, was stuck with a massive $6 million annual obligation to its retired partners. Think about that. Every time they tried to find a merger partner—and they tried a lot—the other side would look at that debt and basically run for the hills.
The Raid That Changed Everything
In March 2022, the "fatal blow" landed.
Paul Hastings swooped in and grabbed 43 restructuring lawyers. This wasn't just a few people leaving for better pay. It was a decapitation of one of Stroock's most profitable engines. When you lose your entire bankruptcy and restructuring group in one go, you lose your hedge against a bad economy.
Then came the desperate dating phase.
Stroock talked to everyone. Nixon Peabody? No. Steptoe? No. McGuireWoods? No. Pillsbury? Almost, but ultimately no. By the time they finally voted to buy out the pension obligations in 2023 to make themselves more attractive, the house was already on fire.
The Final Exodus
By October 2023, the writing was on the wall.
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Over 30 partners, led by co-managing partner Jeff Keitelman, decided they weren’t going down with the ship. They jumped to Hogan Lovells. This was the end. You can't run a Big Law firm with half a partnership. On October 31, 2023, the remaining partners voted to dissolve.
The 2025 Cleanup: What’s Left?
By late 2025, the firm was in a race against the clock.
They had to get a judge to sign off on dispersing nearly $750,000 in unclaimed client funds to the state. We're talking about money belonging to massive names like JPMorgan Chase and Citigroup that was just sitting in retainers.
Jeffrey Friesen, an attorney for the defunct firm, told a New York court in November 2025 that it was "critical" to wrap everything up before 2026. Why the rush? Taxes and partner liability. If the dissolution dragged into the next year, the remaining partners could face significant negative financial impacts.
A Legacy of Power and "Our Crowd"
It’s easy to focus on the failure, but Stroock was legendary.
Founded in 1876 by M. Warley Platzek, it was one of the premier "Jewish law firms" in an era when elite WASP firms weren't exactly welcoming. They represented the "Our Crowd" elite—names like Warburg and Rothschild.
They weren't just about money; they were about influence.
- They helped the U.S. Navy buy its first submarine.
- They fought the constitutionality of Prohibition-era liquor laws.
- They were the go-to firm for New York’s powerful public sector unions.
They even had a whimsical side. Right before the end, they launched a digital tool called "Real Estate Fast Forward," an interactive journey through downtown NYC. It was creative, it was tech-forward, and it was too little, too late.
Lessons for the Modern Legal Market
What can we actually learn from the death of Stroock & Stroock & Lavan?
First, loyalty is a myth in Big Law. When a firm looks shaky, the top billers will leave to protect their own practices. Second, you cannot ignore legacy costs. That pension obligation was a noose.
If you are a client or a former employee, here is the current reality of the wind-down:
- Client Files: If you had a will or estate documents with Stroock, they’ve largely been handed off to Porzio, Bromberg & Newman.
- Unclaimed Funds: If you think the firm owed you a refund on a retainer, that money is likely headed to the New York Lawyers’ Fund for Client Protection.
- The Lawyers: Most of the talent is now at Hogan Lovells, Crowell & Moring, or Steptoe.
The 180 Maiden Lane office is empty. The website is a placeholder. A century and a half of history, reduced to a court-supervised liquidation. It’s a stark reminder that in the legal industry, you’re only as strong as the people who decide to show up on Monday morning.
Actionable Steps for Displaced Clients and Professionals
If you were impacted by the Stroock dissolution, you should immediately:
- Audit your records: Check for any outstanding retainers or escrow funds that weren't returned during the 2024-2025 wind-down period.
- Contact the Liquidation Manager: Gary Polkowitz of Teneo was tasked with the final cleanup; inquiries typically go through the remaining administrative portal at inquiries@stroock.com.
- Verify Document Transfers: If you had long-term corporate records or original estate documents held in the firm's vault, confirm their location with Porzio, Bromberg & Newman or the specific partners who handled your account and moved to new firms.
- Update Service Notices: Ensure any active litigation or corporate filings that listed Stroock as "Counsel of Record" have been formally updated to avoid missed court deadlines or regulatory notices.