Coming off a dry spell, bankruptcy boutiques are watching the ripple effect of the subprime mortgage meltdown and the ensuing credit crunch -- and it's generating buzz about an upswing in bankruptcy, insolvency and finance work. "The difficulties in the subprime mortgage industry are a preview of what's going to happen in the world of corporate insolvency," says lawyer Scott McNutt, whose firm had shrunk from 10 lawyers in 2005 to two partners by early this year, but has hired four new lawyers since April.
December 13, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The mood at the McNutt insolvency firm’s holiday party last week — unlike in years past — was festive. Among the 200 bankruptcy, insolvency and finance professionals gathered at the firm’s 188 Embarcadero Center offices in San Francisco, about half were lawyers, and there was buzz about the start of what looks to be an upswing in work.
“People felt there was more business and there was more on the way,” Scott McNutt said the next morning.
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