Davis Polk & Wardwell and financial adviser FTI Consulting have been employed to help electric vehicle startup Fisker as it contemplates a potential bankruptcy filing. Fisker, like various other EV companies, has been affected significantly by the sluggish demand for electric vehicles. Just last month, Fisker reported that it was over $1 billion in debt. For more detailed information, visit The Wall Street Journal.
In other legal news, ex-M&A attorney for both Paul, Weiss and Debevoise & Plimpton, Michelle Riley, was recently appointed as the chair of the board of directors for Lambda Legal, the LGBTQ civil rights group. Riley presently functions as the general counsel and chief compliance officer for private equity firm Bregal Sagemount. Read more about this on Lambda Legal.
When it comes to the impact of GenAI on the legal profession, a futurist suggests that the considerable advantage for legal professionals will be the time saved by delegating routine, repetitive tasks to the machines; this, in turn, will allow lawyers to focus on cultivating client relationships. Furthermore, attorneys who handle this change efficiently could develop professional relationships and trust in ways that machines may not be able to replicate. This topic is covered in depth on Forbes.
For further news related to lateral shifts and in-house transitions, check Bloomberg Law.