Law firms endured change in 2020 that even the industry’s most prescient decision makers could not have seen coming on Jan 1.
Big Law wasn’t girding for the biggest bankruptcy boom since 2009, which swept in as coronavirus shook the global economy. Restructuring practices saw 5% demand growth through three quarters in 2020, the largest growth area of any practice tracked by Thomson Reuters Peer Monitor Index.
Helping companies issue debt is usually a low-key practice are for large law firms. It became one of the busiest groups in 2020 after intervention from the Federal Reserve held down interest rates ...