Law Firms are Staffing Up on Bankruptcy Lawyers in Anticipation of a Post-COVID-19 Boom
Publisher: ABA Journal
July 28, 2020
Joshua Cohen was quoted in the American Bar Association Journal, the online publication for the American Bar Association. The article, "Law firms are staffing up on bankruptcy lawyers in anticipation of a post-COVID-19 boom," discusses the unknowns about our post-coronavirus future, the probability of an onslaught of commercial bankruptcies and how law firms are responding by restructuring practice groups in anticipation of increased demand. Cohen explains, "when times are good, our tax, corporate, securities, real estate and energy partners are all busy in their disciplines. But when the bottom drops out, we want to keep everyone full engaged." He further explains, "[Day Pitney] takes a multidisciplinary approach to our bankruptcy practice. To the extent we find we still need to fill holes, we'll do that."
Cohen also expects the bankruptcy leaders will be in the hospitality, main street retail and oil and gas sectors, "not big-box stores. Real estate will be an issue as tenants can't pay their rents, and there will be another wave of airline bankruptcies. It still depends in part on who gets bailed out," he explains.
Read the full article here.
