Bankruptcy work saw the largest decline of any practice area during the third quarter, according to the Thomson Reuters Peer Monitor Index. The report tallied a 12.2% decline in work in that space between July, August and September and the same time frame in 2020.

Yet law firm business leaders also expressed more confidence in the growth potential in bankruptcy than any other practice area, according to a recent survey. About 82% of respondents said they expected either moderate or high growth in bankruptcy next year.