- The practice area focuses on what happens when individuals or companies experience financial difficulties and go bankrupt.
- Bankruptcy law provides for the development of a plan that allows a debtor to resolve debts through the division of assets among creditors.
- There are different bankruptcy proceedings available to debtors, including reorganization and dissolution.
- Bankruptcy cases are litigated in the United States Bankruptcy Courts, and cases are filed under Chapters 7, 11, 12, and 13.
- This practice can involve counseling clients that are considering going bankrupt, as well as representing clients that are in bankruptcy.
- The work involves litigation-related tasks, drafting various loan agreements, restructuring documents, and similar documents.
- Attorneys can also go to trial in these cases; however, the trials are not standard jury trials.
- This is also a countercyclical practice area that is busiest when the economy is at its worst.
Why Do Bankruptcy Attorneys Enjoy Their Jobs?
- This is a good practice area for people who enjoy negotiation and gamesmanship.
- There is a lot of deal making done in this practice area, and attorneys tend to do more business-oriented work than general litigation attorneys.
- Attorneys in this practice area also have more marketable skills than many other types of attorneys because there is a lot of very specialized learning for attorneys to master before they become bankruptcy attorneys.
What Are the Difficulties of Being a Bankruptcy Attorney?
- Attorneys who do not enjoy bankruptcy typically do not enjoy litigation, the complexity of the work or the fact that the fast-moving cases can demand long hours and a massive amount of time.
- Attorneys become frustrated by this practice area because judges have a great deal of discretion regarding the arguments they will hear and attorneys need to frequently defend against meritless arguments.
How Easy Is It to Move Laterally as a Bankruptcy Attorney?
- This is a good practice area because it is a relatively small bar and in addition to major law firms, there are also much smaller and well-regarded boutiques that do this work as well.
- This is a countercyclical practice area, and this means that when the economy is good, it can be difficult for these attorneys to find work. In fact, in all but the [worst] economies, bankruptcy attorneys worry about work.
- A major drawback of this practice area is that there are consistently very few jobs and it tends to be very difficult for attorneys to move laterally and searches often take some time.
- On the flip side, most bankruptcy attorneys always end up getting jobs because while firms may move slowly, there is always some place that will hire them.
- Most large, general practice law firms maintain at least one or two bankruptcy attorneys in most of their offices when they get over 100 attorneys, because work comes in and they could always get a big case.
- At the senior level, there is some stability that attorneys get in larger law firms because they always want to have someone around.
- Most of the significant work is done in New York, and smaller markets are more difficult to get jobs in.
Bankruptcy Attorney Jobs
What Does a Construction Attorney Do?
- This practice area involves the law as it relates to commercial and residential building construction projects.
- It involves issues arising from contracts with engineers, architects, contractors, subcontractors, and the government, as well as code and land use laws.
- Construction lawyers sometimes hold engineering and architecture degrees in addition to law degrees.
- Construction law may involve litigation-related work, or it may involve more of the counseling side.
- Most attorneys in this practice area will do litigation.
Why Do Construction Attorneys Enjoy Their Jobs?
- This is a strong practice area for people who enjoy real estate-related law but would prefer to work in a less transactional role and more of a litigation-related role.
- Construction attorneys must enjoy contracts, real estate, and land use work and be familiar with all of these disciplines and also be ready to litigate.
- This is a good practice area for attorneys who enjoy working with lots of parties and are not afraid to be adverse to anyone.
What Are the Difficulties of Being a Construction Attorney?
- Most attorneys who do not enjoy construction law tend to also not enjoy litigation.
- Most of the clients of construction attorneys tend to be small to large developers and construction attorneys often report difficulties getting paid their fees from these parties.
How Easy Is It to Move Laterally as a Construction Attorney?
- There is a healthy lateral market for construction attorneys, but this is not one where recruiters tend to be as involved.
- The issue with this practice area is that the salaries and the quality of the attorneys are not as important as they are in many other practice areas and this means that there is a large supply of people willing to do the work that law firms can choose from.
- The practice area is popular in areas of the country where there is a lot of construction activity.
- Most of the work that construction attorneys are involved in tends to be residential and not commercial-related work, and this keeps fees low.
See the current Construction job openings we are recruiting for here: