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Even though there are signs that the economy is starting to recover, this recession will have a far great impact on the legal profession than any previous recession in the last 70 years.
With each of the prior recessions (which occurred every 10-15 years) the profession continued pretty much unchanged. Clients raised few, if any, issues and firms continued to operate, more or less, as they had before. Business ' and the practice of law ' returned to “normal.”
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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