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Lateral Market for Bankruptcy Lawyers Not Stifled By Chapter 11 Slowdown
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.
In October 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, DC. 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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