Bankruptcy lawyers prepare for an increase in business around the end of the year. Though business bankruptcy filings are down by 45 percent and corporate debt default rates remain near all-time lows, a faith in business cycles has caused predictions of an eventual downturn. In preparation, some large firms are recruiting big-name attorneys from other firms. Winston & Strawn recruited four; Kirkland & Ellis acquired a lawyer from rival Weil, Gotshal & Manges in New York; and top NY-firm Paul, Hastings Janofsky & Walker opened its Chicago office with two attorneys from Jones Day.
Source: www.blackenterprise.com