As the pandemic and related economic factors have introduced an uptick in bankruptcy and restructuring discussions for many businesses, Marie Tomassi discussed the current landscape of the demand for bankruptcy counsel in an article published by the Daily Business Review and its parent site, Law.com, on October 21, 2020.
As many speculate that hospitals and other healthcare providers could take a significant economic hit due to the pandemic, Tomassi noted that the firm has seen a modest increase in healthcare restructuring and insolvency since March. “I don’t know that I would predict a large increase (in 2021),” she said. “But I think we will continue to see more restructuring or flat-out dissolution and outright bankruptcies in the balance of the calendar year.”
As it relates to the impact on law firm management, Tomassi noted recent additions to the firm that have prepared Trenam to meet client demand, even as the exact impact is uncertain. She shared with the publication that Trenam recently added three attorneys, including a health care lawyer and a business transactions lawyer who are expected to work with the firm’s bankruptcy department if the practice area sees increased demand in 2021.
For the full article, which was also included in Law.com’s round-up of top stories on October 22, please click here.
