The many conversations happening now between law firms and their lenders may be easier this time around than in the Great Recession, but partners may be increasingly on the hook.
April 20, 2020 at 05:30 AM
1 minute read
The original version of this story was published on American Lawyer
For an industry so reliant on cash flow and unlikely to keep most of it on hand, the coronavirus’ economic impact has sent many firms scrambling for ways to preserve their access to cash.
Many of those efforts have gone public, including layoffs, furloughs, compensation reductions and more. Others are happening behind the scenes as firms renegotiate with their banks.
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