Big Law’s Bankruptcy Boom Has Turned to Bust as Filings Dwindle

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we look at how a boom-turned-bust in restructurings is impacting Big Law. Sign up to receive this column in your inbox on Thursday mornings.

Big Law bankruptcy practices just finished one of their worst years in decades.

Through January, there hadn’t been a major public-company bankruptcy in more than three months, according to the UCLA-LoPucki Bankruptcy Research Database. That’s remarkable, as companies in 2020 averaged more than one filing a week.

Last year, only eight public companies with more ...