Haynes and Boone Among Firms Whose Demand for Talent Continues as Bankruptcies Extend into 2009

12/20/2008

Demand for Talent Continues as Bankruptcies Extend into 2009
AE Feldman

Bankruptcies of large U.S. companies are expected to extend into 2010, according to a new study released by Bain Corporate Renewal Group (Bain CRG). Meanwhile, the American Bankruptcy Institute (ABI) said U.S. consumer bankruptcy filings jumped nearly 40% in November compared to the year before. And there is no end in sight.

Amid the onslaught of bankruptcies, law firms are also seeing a steady increase in need for legal services. As a result, [executive search firm] A.E. Feldman says legal jobs are opening up for candidates with excellent academic credentials and a demonstrable track record as top firms bet that bankruptcy and restructuring work will be one of their most promising avenues of growth.

Among the firms eyeing opportunity amid the surge in bankruptcies is Haynes and Boone. The firm announced in November it has expanded its bankruptcy and business reorganization practice to meet growing demand for attorneys who can deal with complex legal matters associated with business reorganizations and bankruptcies in today’s volatile economic climate. Haynes added 10 attorneys to it bankruptcy practice group over the past 20 months.

“Our group is busy now, and we’re expecting a very active 2009,” said Steve Pezanosky, head of Haynes and Boone’s bankruptcy and business reorganization practice.

Article excerpted from A.E. Feldman Newsletter.  For full text, click here

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