Fewer businesses filed for bankruptcy protection during 2011 than they did the year before, reflecting a shift toward out-of-court restructurings using high-yield debt financing and bearing repercussions for the legal profession. Luckily for most bankruptcy lawyers, there are still enough existing cases to get them through a lean season. Plus, a look at the largest corporate bankruptcies of 2011.
Bankruptcy cools off
With filings down, bankruptcy practices live off their existing cases.
