In a substantial uptick, commercial Chapter 11 bankruptcy filings saw a 21% increase in August compared to the previous month, according to recent data from Epiq. Projections indicate that corporate bankruptcy filings might surpass the 6,500 mark for 2023, a considerable rise from the fewer than 4,000 seen in both 2022 and 2021.
This surge is leading to intensified competition among law firms as they seek to attract top restructuring partners, a trend that has been notably widespread over the past month. The dynamic environment necessitates skilled professionals adept at navigating the intricacies of restructuring and insolvency law.
For more detailed insights, please read the original article from the New York Law Journal.