After witnessing relatively subdued activity in 2021 and 2022, Chapter 11 commercial bankruptcy filings appear to be on the rise again. A recent report, released by Epiq Global, revealed that July registered a notable uptick in the number of filings, marking 71% more than the same period the previous year. For those of you interested in delving deeper into the report’s findings, you can access the complete study here.
In parallel to this trend, a separate bankruptcy report put forward by BankruptcyData and New Generation Research shed some light on leadership in this expanding space. Eminent law firm Kirkland & Ellis emerged as a dominant player in large debtor-side representations this year, ahead by a substantial margin. On the other hand, Jackson Walker, Kirkland’s frequent collaborator in the Southern District of Texas, saw the highest number of local debtor representations amongst all firms.
These findings underline a clear shift in the bankruptcy landscape amidst a rapidly evolving restructuring market. As commercial filings rebound, the legal giants – Kirkland & Ellis and Jackson Walker – are standing at the forefront, shaping the future of bankruptcy and restructuring practices.