via
Getty)
Ed.
note:
Welcome
to
our
daily
feature, Quote
of
the
Day.
I
am
extremely
pleased
by
the
outcome
of
this
process,
which
facilitated
creditor
recoveries
substantially
exceeding
those
usually
achieved
in
a
law
firm
liquidation.
The
dedication
of
Stroock’s
winddown
team,
the
diligence
of
the
Firm’s
former
partners
in
supporting
the
collection
of
accounts
receivable
and
the
good
faith
participation
in
the
process
by
the
overwhelming
majority
of
Stroock’s
creditors
allowed
us
to
complete
the
winddown
and
dissolution
of
a
law
firm
in
only
26
months
and
helped
to
maximize
the
value
ultimately
delivered
to
creditors.
— Gary
Polkowitz,
a
Senior
Managing
Director
at
Teneo,
the
global
CEO
advisory
firm,
commenting
on
the
completion
of
the
winddown
and
formal
dissolution
of
Stroock
&
Stroock
&
Lavan.
Polkowitz
served
as
the
nearly
150-year-old
firm’s
liquidation
manager,
and
as
of
December
31,
2025,
Stroock
agreed
to
settlements
with
creditors
holding
over
99%
of
unsecured
claims.
Final
distributions
have
now
been
made
to
all
creditors,
who
received
55.50%
of
their
agreed
claims.
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to email her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.