Cravath, Swaine & Moore apparently sees what a lot of firms see: growth in restructuring work. The firm announced Wednesday that it is starting a bankruptcy practice that will be headed up by Richard Levin, who will join from Skadden, Arps, Slate, Meagher & Flom, where he was a partner.

Evan Chesler, Cravath’s presiding partner, said an “insolvency and restructuring practice will both complement and benefit from the firm’s existing litigation, banking, mergers and acquisitions and securities practices.”

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