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2021 was one of the worst years in decades for BigLaw bankruptcy practices

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ABA Journal

The slowdown is a big change from 2020, when Kirkland & Ellis earned more than $200 million in “a COVID-induced bankruptcy boom,” according to Bloomberg Law. Contrast that with 2021, when Kirkland earned about a tenth that much in bankruptcy fees. also noted the bankruptcy downturn last month. The publication reported that commercial Chapter 11 filings decreased by nearly 50% last year, citing data from Epiq Global, a legal data company, ABA Journal reported.

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Carrie Trent