Large law firms are “immensely fragile institutions” and some of them aren’t likely to survive another year, according to a law professor who has studied firm management structures.

Indiana University law professor William Henderson makes his prediction in cross posts on the Legal Profession Blog and the Empirical Legal Studies Blog. “There is a good chance that several hallowed BigLaw firms, particularly those with weak balance sheets, will cease to exist sometime in early to mid-2009,” he writes.

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