As the legal and technology markets continue to converge, spurring the formation of new alternative service providers, Christopher Updike has joined Bankruptcy Management Solutions Inc. as general counsel.
Updike is a former corporate-restructuring attorney with Cadwalader, Wickersham & Taft and, more recently, with Debevoise & Plimpton. BMS is an Irvine, California-based provider of software and services for consumer and corporate bankruptcies.
Eric Kurtzman, co-CEO at the company, said in a statement, “As BMS positions itself for new growth opportunities, Christopher’s vast legal experience will be a tremendous asset to our executive team. He brings strong business acumen with an in-depth understanding of the bankruptcy industry that will be instrumental to the company’s success.”
During his law firm career, Updike handled complex corporate restructurings, including those in Chapter 11 bankruptcy proceedings and cross-border insolvencies.
Updike, who was not immediately available for comment, said in the statement, “I’m looking forward to starting a new chapter in my career. The company has huge potential to leverage its position as a market leader in the bankruptcy sector.”
At BMS he joins two other attorneys, Kurtzman and Jonathan Carson, who became co-CEOs of the company last fall. Before joining BMS, the pair left private practice to launch their own consulting service, KCC, in corporate bankruptcy administration.
Kurtzman previously worked as a restructuring attorney at Pachulski Stang Ziehl & Jones in the firm’s Los Angeles office. Carson was with Kirkland & Ellis’ restructuring team in Chicago.
Along with Updike, the trio represents the growing trend of attorneys leaving law firms to help shape companies that offer technology-driven, alternative legal services.
BMS claims to be the first company to provide software for automating the administration of Chapter 7 bankruptcy cases. Its offerings include a case administration platform, a collaboration portal, and integrated banking through an alliance with Rabobank. It also offers corporate restructuring solutions such as depository services and case administration software for use by Chapter 11 bankruptcy trustees, receivers, plan administrators and other fiduciaries.