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Monday, January 26, 2009
Law - "As Mergers and Other Work Dry Up, Bankruptcy Becomes Lawyers’ Oasis"
Jonathan D. Glater of the NY Times reports today in a story that begins:
There sure do seem to be a lot of bankruptcy lawyers around these days.Law firms, scrambling to keep up with changing client needs in a weakening economy, are rushing to pump up their bankruptcy departments by shifting around staff and having lawyers study up on restructuring, as more people abandon the big deals of boom times to take on desperate negotiations of companies on the brink.
At some firms, seasoned bankruptcy partners hold seminars and host brown bag lunches to introduce Chapter 11 proceedings to associates more accustomed to carefully planned mergers than to corporate fire sales. Some firms have poached bankruptcy experts from rivals in a bid to bolster business and to bring in a source of knowledge for lawyers new to dark times.
Posted by Marcia Oddi on January 26, 2009 12:42 PM
Posted to General Law Related