Bankruptcy is a legal process that can be emotionally and financially overwhelming for individuals and businesses alike. When faced with bankruptcy, it’s essential to hire the right law firm to guide you through the process and help you achieve the best possible outcome. In this blog, we’ll explore what makes a great bankruptcy law firm and highlight some of the top firms in the U.S.
What makes a great bankruptcy law firm?
A great bankruptcy law firm should have experienced attorneys who specialize in bankruptcy law. They should be knowledgeable in bankruptcy law and have a deep understanding of the complex bankruptcy process. A top bankruptcy law firm should also have a strong reputation in the legal community, with a track record of success in representing clients in bankruptcy cases.
Another crucial factor to consider when choosing a bankruptcy law firm is its level of communication with clients. A great bankruptcy law firm should have attorneys who are responsive and communicate with clients throughout the process. They should also be able to explain the process in plain English, rather than using legal jargon that may be confusing to clients.
Additionally, a great bankruptcy law firm should have a client-focused approach, meaning that they put the client’s interests first. They should take the time to understand the client’s goals and objectives and work towards achieving them. This may involve exploring alternative options to bankruptcy or negotiating with creditors to reach a settlement outside of court.
Finally, a great bankruptcy law firm should have a strong support staff that can assist with administrative tasks and provides support to clients. This can include paralegals, administrative assistants, and other support staff who can help ensure that the bankruptcy process runs smoothly.
Top bankruptcy law firms in the U.S.
Now that we’ve explored what makes a great bankruptcy law firm let’s take a look at some of the top firms in the U.S. These firms have been recognized for their expertise, reputation, and success in representing clients in bankruptcy cases.
Skadden, Arps, Slate, Meagher & Flom
Skadden, Arps, Slate, Meagher & Flom is a global law firm with over 20 offices worldwide. They have a robust bankruptcy and restructuring practice, with over 70 attorneys who specialize in bankruptcy law. The firm has represented clients in some of the most complex and high-profile bankruptcy cases, including Lehman Brothers, Enron, and General Motors.
Weil, Gotshal & Manges
Weil, Gotshal & Manges is a global law firm with over 1,100 attorneys across 20 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 100 attorneys who specialize in bankruptcy law. Weil, Gotshal & Manges has represented clients in some of the largest and most complex bankruptcy cases, including American Airlines, Chrysler, and WorldCom.
Kirkland & Ellis
Kirkland & Ellis is a global law firm with over 2,900 attorneys across 15 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 100 attorneys who specialize in bankruptcy law. Kirkland & Ellis has represented clients in some of the most significant bankruptcy cases, including Toys “R” Us, Hertz, and Sears.
Cravath, Swaine & Moore
Cravath, Swaine & Moore is a prestigious law firm with a strong reputation in the legal community. While they don’t have a dedicated bankruptcy practice, they have represented clients in some of the most significant bankruptcy cases, including General Motors and Delta Air Lines. The firm’s reputation for excellence and client-focused approach make them a top choice for clients facing bankruptcy.
Davis Polk & Wardwell
Davis Polk & Wardwell is a global law firm with over 900 attorneys across 10 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over
40 attorneys who specialize in bankruptcy law. Davis Polk & Wardwell has represented clients in some of the largest and most complex bankruptcy cases, including Lehman Brothers and General Motors. The firm is known for its client-focused approach and its ability to navigate complex bankruptcy cases.
Latham & Watkins
Latham & Watkins is a global law firm with over 2,700 attorneys across 30 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 50 attorneys who specialize in bankruptcy law. Latham & Watkins has represented clients in some of the most significant bankruptcy cases, including Enron and Lehman Brothers.
Jones Day
Jones Day is a global law firm with over 2,500 attorneys across 43 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 60 attorneys who specialize in bankruptcy law. Jones Day has represented clients in some of the largest and most complex bankruptcy cases, including General Motors and Toys “R” Us.
Sidley Austin
Sidley Austin is a global law firm with over 2,000 attorneys across 20 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 50 attorneys who specialize in bankruptcy law. Sidley Austin has represented clients in some of the most significant bankruptcy cases, including Lehman Brothers and General Motors.
Cleary Gottlieb Steen & Hamilton
Cleary Gottlieb Steen & Hamilton is a global law firm with over 1,300 attorneys across 16 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 30 attorneys who specialize in bankruptcy law. Cleary Gottlieb Steen & Hamilton has represented clients in some of the largest and most complex bankruptcy cases, including Lehman Brothers and Enron.
Morrison & Foerster
Morrison & Foerster is a global law firm with over 1,000 attorneys across 16 offices worldwide. The firm has a strong bankruptcy and restructuring practice, with over 25 attorneys who specialize in bankruptcy law. Morrison & Foerster has represented clients in some of the most significant bankruptcy cases, including Pacific Gas and Electric Company and Toys “R” Us.
Conclusion
Choosing the right bankruptcy law firm is essential for achieving the best possible outcome in a bankruptcy case. A great bankruptcy law firm should have experienced attorneys who specialize in bankruptcy law, a strong reputation in the legal community, and a client-focused approach. Skadden, Arps, Slate, Meagher & Flom, Weil, Gotshal & Manges, and Kirkland & Ellis are among the top bankruptcy law firms in the U.S., with a track record of success in representing clients in some of the largest and most complex bankruptcy cases. However, there are several other great bankruptcy law firms in the U.S., and the right choice will depend on the specific needs and goals of each client.
