ANALYSIS: Three Skills Bankruptcy Associates Need to Stand Out

Attorneys new to commercial bankruptcy practice often focus on obvious areas to build up their expertise: mastering the substantive and procedural rules of Chapter 11 and boosting their litigation and transactional skills. But new bankruptcy attorneys shouldn’t overlook developing three additional skills as they start their careers.

1. Accounting and Finance

Chapter 11 associates can always benefit from some basic accounting and finance abilities like reading balance sheets, identifying where valuation issues come into play with various provisions of the Bankruptcy Code, and understanding different valuation methodologies. It’s also helpful to learn about corporate financing structures, from issuance of bonds ...