CMS will relocate lawyers from across the firm to its restructuring and insolvency (R&I) practice, as the firm seeks to manage the increase in workload brought about by the coronavirus outbreak.
A London partner at the firm told Law.com International that the R&I practice has sought associates from the corporate practice to help manage additional work as companies across the globe grapple with the virus.
A spokesperson for CMS confirmed that the firm is looking to pool those with R&I experience across other teams in the firm to assist the dedicated R&I team in managing the increased workload brought on by COVID-19.
The move is “only likely to be a temporary measure”, the spokesperson added in a statement.
In February, Law.com International spoke to a number of partners across the industry who predicted the outbreak would cause a spike in restructuring work.
In March, Linklaters, Freshfields Bruckhaus Deringer and Jones Day all acted on a refinancing deal for major cinema chain Cineworld, which said in a statement on the London Stock Exchange that it was dealing with the financial fallout from the virus.
Read more:
Law Firms Go Remote: Updates on Law Firm Closures During the Coronavirus Crisis
The Pressures Facing Firms as The Industry Shifts to Remote-Wotrking
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