Modern Counsel’s Post

Charlotte Johnstone reports: The firm’s revenue has hit £196.6 million for 2023, a significant increase of £63 million on 2022, when revenue stood at £133.6 million. It comes in a year that the litigation powerhouse took on major mandates for Credit Suisse investors, among others. Profit has also leapt 60% from £94.87 million in 2022 to £153.6 million for 2023. Both increases mark the second year in a row that Quinn Emanuel has boasted profit and revenue leaps, following a year of flattening growth in 2021. https://lnkd.in/gsKRw2g7

As economic conditions remain challenging, PwC UK head of insolvency David Kelly provides his insights in a new article which considers how company directors can address - and hopefully overcome- these challenges while fulfilling their #directors’ #duties. You can access the article here: https://lnkd.in/e9e_FCbV 

Technical Article: As we navigate the choppy waters of economic downturns, the prospect of insolvency looms larger for many businesses. In these challenging times, it is imperative for directors to be acutely aware of insolvency risks and to implement robust risk management strategies to safeguard their companies. The recent economic climate has accentuated the need for prudent financial oversight and strategic decision-making, making it more important than ever to ensure that directors are fulfilling their duties diligently. Check out our article below. Be sure to sign up for our monthly newsletter on our website. #insolvency #guarantees #bankruptcy #liquidation #shareholder #business

Kroll’s 2024 Restructuring Conference brought together experts from our Global restructuring teams and speakers representing law, banking, private credit and alternative funders to discuss the major issues facing the restructuring market. My colleagues Sarah Rayment, Jimmy Saunders, Janet Burt and Paul Carter ACMA, CGMA here are discussing the key challenges facing UK businesses in the current climate. Check out the key takeaways and themes from the discussion: http://ms.spr.ly/6041YzCmD

I recently spoke with Justin Henry, reporter at The American Lawyer, about the continued golden age of private credit highlighting the market's continued growth and evolution with innovative new product offerings on the rise. Private credit is resilient, direct lenders can be more nimble and creative regardless of market cycles, so the opportunities will continue to be in demand and related strategies are here to stay. How does this impact legal hiring? There is growing demand for credit specialists both at law firms and in-house to support and contribute to the growth and evolution of private credit strategies. Attorneys understand the value proposition and are excited by being a private credit lawyer because it provides an opportunity to be involved in often novel and esoteric transactions that require creative and “outside-the-box” thinking. Pair that with the sector’s continued growth and stability as well as the opportunity to work at sophisticated private credit lenders – why wouldn’t you want to be a part of that? Want to discuss? Please reach out! Major, Lindsey & Africa * #privatecredit * #americanlawyer * #assetmanagement * #legalrecruiting * #mlaglobal https://lnkd.in/e_ZbequR

Against the backdrop of difficult economic conditions, my colleague David Kelly (Head of Insolvency at PwC UK) sets out a number of challenges that directors may face in relation to their responsibilities, and provides some useful practical steps that they can consider taking, in order to fulfil their #directors' #duties. You can access the article here: https://lnkd.in/efk9xkfx

J. Logan Rappaport, Esq., the co-chair of the Firm’s Financial Services, Creditors’ Rights, and Bankruptcy department, will be attending the American Bankruptcy Institute’s annual conference in Manhattan later this week along with associate, Mariam Chubinidze, who will be officially sworn into the New York State Bar later today. The NYC conference is one of ABI’s largest and most prestigious events — and one of the most significant gatherings of insolvency and restructuring professionals in the New York metro area. #bankruptcy #abi #americanbankruptcyinstitute #chapter11 #chapter7 #crossborderinsolvency #restructuring #insolvency #creditorsrights #securedcredit #bankruptcylaw #bankruptcylitigation #commerciallitigation

The recent global economic downturn has brought about a heightened focus on financial stability and risk management in Australian businesses. White & Case’s Timothy Sackar, Jillian McAleese and Ashleigh Tang discuss in the recently published Restructuring/Insolvency Law chapter in the 2024 Chambers Australia Guide. Read it here: https://whcs.law/3urnh6d #restructuring #insolvency

More BigLaw Private Credit Lateral Movement Feel free to reach out for a confidential discussion of current lateral opportunities - partner , group or merger options .

When a business is facing financial challenges and the risk of failure one of the key determinants of whether the company will avoid #insolvency or not is the approach the directors take. Recognising this is unfamiliar territory for many I have set out some thoughts on director duties and some suggested actions management teams should be taking. #bankruptcy #directorduties #disqualification #corporatefailure