Seeking a merger partner in an effort to reshape its future, Bingham McCutchen is still coping with the fallout from one of its past combinations.

Five years ago, Bingham joined with McKee Nelson—and approximately 60 partners from the latter firm received a guaranteed contract. The deal raises questions as to what role the contracts played in the lead-up to Bingham’s current financial state. In 2013 revenue and profits plunged to mark the firm’s worst financial performance ever.