The nation's top law firms are facing an uncertain new landscape following the demise of two of Wall Street's biggest and most established investment banks -- Lehman Brothers and Merrill Lynch. For most large corporate law firms, which depend on financial institutions as the cornerstones of their client lists, these developments, combined with the earlier demise of Bear Stearns and the possible imminent collapse of insurance giant American International Group, portend dark days ahead.
September 16, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The nation’s top law firms are facing an uncertain new landscape following the demise of two of Wall Street’s biggest and most established investment banks.
The bankruptcy of Lehman Brothers and the announced acquisition of Merrill Lynch & Co. by Bank of America will no doubt produce a flurry of legal activity. In particular, Lehman’s massive filing, involving some $600 billion in debt, will keep scores of lawyers occupied for years to come.
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