Though Lehman Brothers’ bankruptcy is bad news for Wall Street, it’s a boon for Weil, Gotshal & Manges, which is acting as debtor’s counsel.
The AmLaw Daily reports that Weil, Gotshal got the job at “a time when attention had focused on whether Weil’s famed bankruptcy practice was losing its edge.” The firm has lost a number of bankruptcy partners in recent years. Partner Harvey Miller, who is leading the team advising Lehman, returned to the firm in 2007 after a five-year stint at investment bank Greenhill & Co.
When he rejoined Weil, Miller told AmLaw that he was confident his firm’s bankruptcy practice would pick back up. And as the AmLaw Daily reports here, he was apparently correct.