The administrative office of the U.S. Courts said Thursday that bankruptcy filings fell 8.5 percent over the last fiscal year. But there’s been no slowdown in Chapter 11 work for firms serving the energy industry, where the collapse in global commodities prices over the past 18 months has put a crimp on cross-border dealmaking.
On the contrary, the oil price plunge has meant a gusher of restructuring work for some big firms—such as Kirkland & Ellis and Jones Day—as they seek to siphon off new assignments.
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