Law Firms Push to Get Bills Out, See More IOUs During Covid-19

Law firms looking to weather the Covid-19 economic storm are throwing some cash-strapped clients a lifeline while trying to avoid steep discounts and pushing to ensure that bills go out on time.

“In limited circumstances, we’ve abated fees, agreed to deferred payments of certain amounts, and alternative fees to try and help some clients,” Rich Benenson, managing partner at Brownstein Hyatt Farber Schreck said. The firm has so far avoided “rogue discounting” on lawyers’ fees and rates, he said.

Firms have been forced by the pandemic to conduct their own cost-cutting measures, such as furloughs and reducing partner draws. But ...