Daily Bankruptcy Review Ranks Morris Nichols #6 Nationwide And #1 Among Mid-Size and Small Firms

September 2006

In a study dubbed “the first portrait of the market for bankruptcy counsel,” posted recently on the Social Sciences Research Network web site and reported in the September 12 Daily Bankruptcy Review, a Dow Jones & Company Publication, Wilmington’s Morris, Nichols, Arsht & Tunnell LLP was ranked first among mid-size and small law firms for the number of large, public-company bankruptcy cases filed around the country between 2001 and mid-2005 in which it acted as lead debtor’s counsel.  The more than ninety mid-sized and small law firms in the study included firms with in excess of 800 attorneys.  Overall, Morris Nichols was ranked sixth among law firms of all sizes.

The study, entitled “Choosing Corporate Bankruptcy Counsel,” was conducted by Stephen J. Lubben, a law professor at Seton Hall University, and involved 275 publicly traded companies with assets of at least $231 million. The companies came from a wide range of industries, and varied in size from one to 252,000 employees. Lubben’s research also found that the Wilmington and Manhattan bankruptcy courts attracted more than half of the cases studied. While three law firms dominated the filings in New York, they were much less likely to be hired for cases heard in Delaware, or anywhere outside of Manhattan.  

“ Morris Nichols’ business model is to provide excellent client representation at competitive rates in both lead and co-counsel roles,” said Robert J. Dehney, a Morris Nichols partner who serves as the practice group coordinator for Morris Nichols’ Business Reorganization and Restructuring Group.  Mr. Dehney added, “The study results are a welcome recognition of Morris Nichols’ ability to service large, public companies as lead counsel in bankruptcy and restructuring matters.”