ABA Journal - Law News Now

Partners

Wall Street Crisis Creates Too Much Work for Weary Bank Lawyers

Posted Oct 9, 2008, 04:00 pm CDT
By Martha Neil

Amidst what one consultant describes as a horrible year for major corporate law firms, one practice area is red-hot: advising struggling financial institutions, for those considered expert in the practice area.

One unnamed lawyer billed 450 hours last month—that's 15 per day, every day, according to Bloomberg. Others, according to news reports, may be working even harder.

However, the deluge of legal work flowing from the current Wall Street crisis is going to dry up, sooner or later. And the companies that lawyers are helping to go out of business aren't likely to result in a continuing stream of referrals, points out Jonathan Lindsey. He is the managing partner of legal recruiter Major, Lindsey & Africa's office in… Continue reading...

• Comments: 0
• E-mail / Share
• Permalink
• Print