Life as a lawyer in a countercyclical practice area

Womble Bond Dickinson restructuring and insolvency lawyers explain what the economic downturn means for their clients

Market slowdowns affect different practice areas at law firms differently. Some, like insolvency, are countercyclical meaning they tend to see more work when the economy is struggling. At Legal Cheek’s recent virtual student event, ‘Inside the countercyclical practice areas set to power law firms through the recession’, lawyers from Womble Bond Dickinson (WBD) discussed their work in the firm’s restructuring and insolvency team. Here are the highlights.

The speakers

Victoria Procter, legal director in the restructuring and insolvency team
Harry Rose, associate in the restructuring and insolvency team
Omar Sammakia, solicitor in the restructuring and insolvency team

Rising demand for countercyclical lawyers

With economic crises come unique opportunities for lawyers, especially those working in countercyclical areas like restructuring. “We are expecting the next few years to be quite busy considering the current economic downturn and challenging headwinds,” said associate Harry Rose. “High levels of inflation and energy costs are squeezing margins and increasing costs for businesses. We expect to see a lot of businesses needing to restructure in the coming years.”

Economic pressures could produce legal work related to personal insolvency as well. “The cost of living crisis means that many individuals have high levels of credit card debt (particularly post-Christmas) or other personal debts and may need to seek the advice of an insolvency practitioner or an insolvency lawyer if those debts become unmanageable,” said Rose. Overall, there is anticipated to be more work for lawyers in corporate and personal insolvency over the coming period.

A typical day in an insolvency team

As an insolvency lawyer, and as a general rule, the work is split between contentious or

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Finding Your Unique Place in Law Practice is a Reflective Journey

Some lawyers know from the start of their careers exactly who they are and what kind of practice they want to build.

Early on, they create a practice that reflects that self-understanding, and thrive. But for others, finding purpose and place within the law is a longer and more complex journey.

Opaque Beginnings

Before they start to practice law, very few would-be lawyers have access to a wide network of attorneys. Most lack visibility to the many practice areas and career paths in the legal industry.

That leaves many new attorneys, especially those without ties to the legal community, vulnerable to making uninformed early decisions about the legal career they want to develop.

To fill that void, it’s easy to default to the most obvious choices. One might believe there are limited options—private practice or government practice, litigation or transactional, partner track or solo practitioner.

Law school and media reinforce these false dichotomies and the limited menu. The traditional law firm model does this, as well, by placing newly minted associates into specified practice groups before new lawyers gain significant experience in a particular area of law.

External forces, like the economy, the business cycle, or a heavy debt load, also may also limit viable career choices for early-career lawyers.

The end result is that some will find themselves in a practice area or industry segment that doesn’t quite fit their skills and goals.

Add the feeling of being misplaced to the pressure of a notoriously stressful profession, and it’s easy to see why some lawyers find themselves unhappy, burnt out, or battling the demons of depression and substance abuse that plague the legal profession.

So, what’s a misplaced lawyer to do?

Go Deep

Finding place and purpose within the law begins with introspection. That requires defining what

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SKO grows via merger with Katz Korin Cunningham of Indianapolis

LOUISVILLE, Ky. – Two well-respected law firms have joined as one. Kentucky and Indiana-based Stoll Keenon Ogden PLLC (“SKO”) has merged with Indianapolis-based Katz Korin Cunningham, effective July 1, 2022.

Pre-merger, SKO had 145 lawyers in offices in Louisville, Lexington and Frankfort, Kentucky and Indianapolis and Evansville, Ind. With the addition of Katz Korin Cunningham, SKO has more than 180 attorneys and approximately 130 professional staff. With this move, SKO increases its presence in Indianapolis from 7 lawyers to 45 and, in combination with its substantial and growing number of lawyers in Evansville (20), has a total of 65 Indiana-based lawyers and 118 Kentucky-based lawyers. P. Douglas Barr (Lexington/Louisville) remains as the Managing Director of SKO.

The increased presence in the Indianapolis market reflects SKO’s dedication to adding excellent legal services capabilities to serve an increasing regional client base in more than 40 practice areas in a range of industries. SKO serves hundreds of clients in its geographic footprint and represents clients in nearly every state and other countries.

“In a rapidly changing world and business environment, we believe our success has been the product of being nimble enough to anticipate and adapt to change while remaining doggedly determined to hold on to SKO’s primary values ​​– the pursuit of professional excellence and outstanding service to our clients and our communities. We are our clients’ trusted advisors and our clients’ needs have never stopped at state borders,” said Barr, managing director of the merged firm. “The abundant economic connections between Indianapolis, southwest Indiana and Kentucky have meant it has long been part of our strategic plan to grow in Indianapolis. We could not have been luckier to find a partner like Katz Korin Cunningham that shares our values ​​and goals. Katz Korin Cunningham has experienced and highly skilled attorneys who

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Baker McKenzie Records 30 Practice Area Rankings and 13 Lawyer Rankings in The Legal 500 US 2022 | Newsroom

Leading global law firm Baker McKenzie has 30 practice areas and 13 lawyers recognized in the recently published 2022 edition of The Legal 500 United States.

Practice areas to earn Tier 1 rankings were Media, Technology and Telecoms: Cyber ​​Law (including Data Privacy and Data Protection); Taxes: International Taxes; and Taxes: US Taxes: Contentious. The Firm also received a new ranking in the Antitrust & Competition practice area and saw promotions in Labor and Employment: Workplace and Employment Counseling and M&A/Corporate and Commercial: M&A: Large Deals ($1Bn+).

The Legal 500 rankings are based on a series of criteria, including work conducted by law firms over the past 12 months, experience and depth of teams, areas of specialization and ancillary services, and client feedback. You can find the complete list of rankings here.

The following lawyers were recognized:

  • Brian Hengesbaugh – Hall of Fame
  • Benjamin Ho – Next Generation Partner
  • Samuel Kramer – Hall of Fame
  • Stewart Lipeles- Leading Lawyer
  • John McKenzie – Leading Lawyer
  • Michael S. Mensik – Hall of Fame
  • Betsy Morgan – Hall of Fame
  • Mark Oates – Hall of Fame
  • Julia Skubis Weber – Next Generation Partner
  • Janet Kim – Leading Lawyer
  • Jessica Greenwald – Associate on the Rise
  • Sinead Kelly – Leading Lawyer
  • Maria Eberle – Next Generation Partner

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