Big Law Bankruptcy Lawyers Switch Firms Amid Chapter 11 Slowdown
"It wouldn't be wise to make decisions about growth based on current market thinking because it's going to change," Sidley Austin restructuring partner Tom Califano said.
October 14, 2021 at 10:00 AM
4 minute read
Legal Services
After a year filled with filings, commercial Chapter 11 bankruptcies fell off a cliff in 2021, causing bankruptcy lawyers to work on out-of-court restructurings or pivot to practices with overlapping skills such as real estate and commercial litigation.
But the Chapter 11 slowdown, which started last winter and bottomed out this spring and summer, hasn't stifled the lateral market for experienced bankruptcy partners.
This month alone, Arent Fox added New York bankruptcy and restructuring partner Brett Goodman from Troutman Pepper, and Sidley Austin hired former Kirkland & Ellis restructuring partner Anthony Grossi to work in New York and Washington, D.C. Snell & Wilmer also added partner Josh Rataezyk, who recently worked at Davis Wright Tremaine, to work in its new Seattle office.
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