Weil Gotshal & Manges has announced that it will close its Prague office at the end of this year.
According to a statement released by the firm: "Weil and its Prague partners, Karel Muzikar, Karel Drevinek, Petr Severa and Karolina Horakova, have agreed that as of January 1, 2019, the Prague office will split from Weil, Gotshal & Manges to be owned and operated by these partners as an independent firm. The Prague office will seamlessly continue to provide top class legal services in the Czech Republic which it rendered to clients for the past 25 years. On cross-border transactions involving other jurisdictions, the Prague office will continue to work with Weil’s offices based on clients' needs."
Weil closed its Budapest office at the beginning of 2018, with the team, led by Partner David Dederick, joining the Budapest office of Bird & Bird as reported by CEE Legal Matters on January 11, 2018.
In a statement to The Lawyer, Weil Executive Partner Barry Wolf announced that: “Over the years, our Prague office has been a leader in the region, involved in many significant transactions in the Czech Republic. We are very proud of all that our colleagues have achieved and we know they will continue to accomplish great things. We thank them for their many contributions to Weil and wish them all the best.”
This continues the recent withdrawal from the region of the larger international firms, with Weil, Gide, Clifford Chance, and White & Case each closing multiple CEE offices in the last few years, following the pullback of Linklaters and Freshfields a decade earlier.