With an improving economy, low interest rates and more investors willing to put funds into distressed companies outside of bankruptcy leading to a "bankruptcy recession," firms are trimming their ranks and steering bankruptcy attorneys into other areas.
September 03, 2013 at 12:00 AM
1 minute read
A slowdown in Chapter 11 bankruptcy filings has led law firms to trim their ranks and steer bankruptcy attorneys into other areas, said attorneys in interviews with the Law Journal.
“Firms across the board have been trimming their restructuring practices because there’s been a pronounced slowdown in the field,” said John Rapisardi, a partner in O’Melveny & Myers and cochair of the firm’s restructuring practice.
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