Tuesday, May 26, 2009

N.Y.Times: Not Enough Lawyers...

...to handle an expected General Motors bankruptcy:

How many lawyers will end up working on G.M.'s expected bankruptcy case still is not clear, but in legal circles, the joke is that there may not be enough experienced bankruptcy lawyers available to handle the filing.

In part, that is because so many top lawyers are already running up lots of billable hours working on the Chrysler bankruptcy case, while others have been hired by the government, which is financing the way through bankruptcy for Chrysler and, presumably, G.M.

It is not just lawyers who will be busy handling a G.M. bankruptcy filing, which would be perhaps the biggest and most-watched in legal history. 

- Garry J. Wise, Toronto

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