< Back to About the Firm
First, any bankruptcy practitioner will regularly state that it is easier to reach a result with another skilled bankruptcy practitioner than it is with an outsider or one who is inept. The persistency of connection between two strong people will usually lead to a more rapid and easy decision than between two people which do not have a prior connected relationship. The top bankruptcy lawyers regularly spend substantial amounts of time connecting with other attorneys, enabling them to increase their familiarity with other attorneys and establish a potential hierarchy among such attorneys in the event that a connection is needed in a future case. Common activities where the connections are made include State and local Bar Association participation, speaking and writing in continuing legal education programs, membership in the National Bankruptcy Conference, membership and participation in the American Bankruptcy Institute, participation in the American Bar Association Business Bankruptcy Committee or Commercial Financial Services Committee, and attendance at the annual meetings at the National Conference of Bankruptcy Judges.
In every major U.S. city, there are separate nets composed of the regular bankruptcy practitioners in the locality. Superimposed upon each of these local nets are members of the national net who travel from city to city handling bankruptcy matters. The weight of an individual attorneys’ connection may vary between the various connections in his or her home network and the weight of those connections in a network in which the attorney is less well known.
Individual city networks also vary materially. In the large eastern cities such as New York, Chicago, Philadelphia, Cleveland, and Detroit, the network and its relationships are now several generations old. Numerous relationships in that network can best be understood, not only in the interaction between the individual attorneys, but also interaction which those attorneys’ parents or mentors may have had with each other over a substantial period of time.
MacDonald, MacDonald & McLeod, “Chapter 11 As a Dynamic Evolutionary Learning Process In a Market With Fuzzy Values,” 1993-1994 Norton Survey of Bankruptcy Law, Page 71.