legal industry

Bankruptcy Filings Rise 10% and Local Courts Are Feeling the Pinch

Bankruptcy Filings Rise 10% and Local Courts Are Feeling the Pinch



Bankruptcy Filings Rise 10% and Local Courts Are Feeling the Pinch | Daily Business Review
















Credit: Thanyalak/Adobe Stock

Attorney Glenn Moses attributes the uptick to “…a more conservative approach by banks in their lending practices – causing liquidity issues for business which often results in a bankruptcy filing.”

August 01, 2023 at 11:38 AM

3 minute read

Lisa Willis

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Federal court data show a double-digit uptick in bankruptcy filings, and the ripple effect is being felt in South Florida.

In a report issued July 31, personal and business bankruptcy filings rose 10 percent in the twelve-month period ending June 30, 2023, compared with the previous year.

Read the U.S. Bankruptcy Report Here

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The Court in the Boy Scouts Bankruptcy Fails to Do Its Duty

The Court in the Boy Scouts Bankruptcy Fails to Do Its Duty



The Court in the Boy Scouts Bankruptcy Fails to Do Its Duty | National Law Journal
















Todd Zywicki is George Mason University Foundation Professor Law at Antonin Scalia Law School. Courtesy photo

COMMENTARY

The dynamics of this case illustrate the dangers posed by the intersection of bankruptcy law with the modern tort system.

June 13, 2023 at 09:00 AM

6 minute read

By Todd Zywicki |
June 13, 2023 at 09:00 AM

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Eversheds Sutherland Hires Trio of Finance and Restructuring Lawyers

Eversheds Sutherland Hires Trio of Finance and Restructuring Lawyers



Eversheds Sutherland Hires Trio of Finance and Restructuring Lawyers | Daily Report
















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A photo of Eversheds Sutherland's offices Eversheds Sutherland. Courtesy photo

NEWS

Regardless of bankruptcy filings this year, the firm said it’s aiming to grow its finance and restructuring teams simultaneously.

September 28, 2022 at 04:10 PM

3 minute read

Jacob Polacheck

Eversheds Sutherland is one of the latest law firms to stock up on talent in finance and restructuring, announcing three hires this week across different offices.

The lawyer moves come amid growing economic concern in the U.S. and internationally, and as law firms across the Am Law 200 and the legal industry have been hiring in bankruptcy and finance practices this year.

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Change Is On the Way. Law Firms Are Getting Ready

Faced with inflation, a looming recession and increased global regulation, law firms are looking at a lot of uncertainty. Even those still enjoying high demand for their services and basking in the increased profits and revenue they’ve experienced in the past year, know that change is likely on its way. So they are getting ready, taking steps they hope will insulate them from whatever is to come.

There are many ways to prepare for the big changes ahead but perhaps the most dramatic step a law firm has recently made took place last week in Australia. There, the fast-growing firm Wotten + Kearney, which specializes in insurance law, announced it is selling a 30% stake in the firm to a private equity company.

The law firm, which has 57 partners and more than 300 lawyers, wants to raise money to expand geographically—both in Australia and in Asia. It also wants to attract top talent, capture new market opportunities and invest in legal tech. It could have raised money by listing on a stock exchange—a move taken by other firms, both in the U.K. and in Australia. Or it could have pursued traditional financing. But instead, Wotten + Kearney did what

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Best Law Firm Types For Different Young Lawyers

Working at a law firm is a great start for young lawyers to gain experience and work their way up to a partnership. Still, this track isn’t always the best fit for every lawyer. Some lawyers will do better on their own as solo practitioners and others will be better served in small or large firms. There are several tracks available to lawyers and it’s important to understand each to make the best decision for their career. 

What Is It Like to Work at a Law Firm?

There’s no simple answer to this question. The experience depends on the size and reputation of the firm, the practice area, and other factors. No matter the size of the firm, the legal industry is known for being stressful and often includes long hours that seep into a lawyer’s personal time.

The benefits of working at a law firm include getting training from more experienced lawyers, a guaranteed salary, and experts in different departments to handle specific areas of the law firm’s business like invoicing and billing. Lawyers at law firms simply get to practice law without worrying about running a business, handling their own marketing or accounting, or other hassles.

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