"The countercylical practices for the most part are not evenly distributed," Bower said. Firms with big bankruptcy practices, like New York's Weil, Gotshal & Manges -- ? which is representing Enron, among others -- ?are very busy, but other firms with little bankruptcy expertise are experiencing a tough year, he said.
Law firms carry more debt today as well. Brobeck, for example, had tens of millions in debt, and that was a significant factor in the decision to wind down, partners said last week.
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