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Partner Mark Jacobs, a member of Pryor Cashman’s Bankruptcy, Reorganization and Creditor’s Rights Group, was interviewed by Reuters for its June 23, 2010 article, “US bankruptcies fall; restructuring pros scramble.”

In response to questions about the impact of the decrease in corporate bankruptcies (down from 118 to 50 over the first six months of the year), Jacobs responded: “There are a lot of hungry bankruptcy professionals, restructuring firms and financial advisers. Everyone out there is trolling for new business. We're on the backside of the implosion of 2008 when financial markets cratered. The cases that were going to file in the wake of the Great Recession have pretty much filed.”

Jacobs also commented on how bankruptcy professionals were becoming aggressive in getting new work:  “In creditor-committee pitches, I'm seeing a lot more people show up. Whenever there's a filing of any size, you see a lot more people looking for the business.”

To read the Reuters article, please click here.