As the global economy has stabilized and grown in the decade since the financial crisis, it seems counterintuitive that Big Law has remained busy in the corporate restructuring and bankruptcy arena.
After all, conventional wisdom suggests that a restructuring group acts as a sort of security blanket for a large firm: a practice that can heat up when the economy takes a downturn, providing much-needed, countercyclical revenue during stretches when corporate dealmaking is less active.
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