Bankruptcy Boutiques Are ‘Quietly Booming’
The declining economy is good news for boutique law firms handling business bankruptcies.
“Bankruptcy boutiques across the country have been quietly booming in this economy as bankruptcies and workouts soar,” according to Portfolio.com. “Unlike large law firms which have been pummeled by the recession, forcing them to fire lawyers and entirely rethink established business practices, these smaller bankruptcy shops say the current economy is actually an opportunity to shine.”
While most large law firms have bankruptcy practices, they are unable to handle some cases because they also represent large financial institutions, creating a conflict of interest, the story says.
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