Drop in Business Bankruptcies Creates BigLaw Slowdown

September 8, 2010 By Editor Leave a Comment

Source: ABA Journal Top Stories
Business bankruptcies are down 4 percent in the first six months of the year, and that’s translating to a bit of a slowdown for law firms once inundated with restructuring work during the height of the economic meltdown. Most partners interviewed by the New York Law Journal said they have enough ongoing bankruptcies to keep them busy, although some lawyers have noticed a difference in work levels. Jay Goffman, co-head of the restructuring group at Skadden, Arps, Slate, Meagher & Flom, was one of them. “If you’re in restructuring, you were working around the clock for the last 18 months,”…
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