Posted Aug 13, 2007 01:06 pm CDT
Vinson & Elkins is the latest law firm to add bankruptcy lawyers, acquiring a five-lawyer boutique for its New York office.
The firm, Cronin & Vris, worked extensively with V&E on the bankruptcy on Enron Corp., the New York Law Journal reports. Founders of the New York boutique once worked for Wachtell, Lipton, Rosen & Katz.
Many big law firms are acquiring or beefing up bankruptcy practices, ABAJournal.com noted earlier this month.
Ann Israel, who heads a New York City legal recruiting firm, says bankruptcy has become a money maker for law firms. “This is a big, serious practice now,” she said. “This isn’t an embarrassment any longer.”