Bloomberg Law
July 29, 2020, 11:00 AM

Bankruptcy Practices Scour Field for Resources on Rising Demand

Alex Wolf
Alex Wolf

Large U.S. law firms are scrambling to address a ballooning need for bankruptcy and corporate restructuring expertise.

The Covid-19 pandemic has unleashed an unprecedented severity and speed of corporate distress, as Chapter 11 filings pile up and fire-sale assets garner interest. Law firms are scouring the field to hire experienced restructuring attorneys, counter to what has otherwise been a declining attorney job market.

They also are tinkering with in-house resources, beefing up bankruptcy groups by reassigning younger attorneys and other personnel who lack the same bona fides to meet the new demands of distressed clients. New task forces are being ...

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