Today's Times newspaper contains an interesting piece on some of the ways in which law firms are adapting to help clients through the COVID-19 crisis, and I enjoyed swapping ideas with Jonathan Ames on the topic.
Lawyers pride themselves on the ability to adapt, and that flexibility of thought will be important over coming months as we all learn to operate within the "new normal".
It is too soon to say that traditional insolvency work will come to the fore, but transactional lawyers (finance, M&A, private equity etc) have already switched to restructuring work and are trying to help clients navigate through uncharted territories. We are working with businesses to understand the likely shape of the post-lockdown world, and to think about the business consequences of adapted behavior around social distancing and other requirements.
No one knows what will result from this crisis, but we can be pretty sure that our clients will adapt in order to thrive, and we will do all that we can to innovate and support them.
Insolvency may bring new dawn for City law firms - All is quiet in the City, but behind the scenes firms are pondering how to survive...