find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Wanted: insolvency lawyers

Wanted: insolvency lawyers

Recruitment strategies aren't exactly top of mind for law firms at the moment - unless you're talking about their insolvency practices. Despite the fact that many practice groups are…

Recruitment strategies aren't exactly top of mind for law firms at the moment - unless you're talking about their insolvency practices.

Despite the fact that many practice groups are experiencing hiring freezes, and, in some cases, redundancies, there's still a significant amount of movement in the insolvency area.

According to Corrs Chambers Westgarth Partner Dominic Emmett, there's a shortage in the market of skilled, experienced insolvency lawyers because the area has been relatively quiet for so long.

"It's been so long since [insolvency practices] have had such a strong flow of work and a recession like we have now, so there isn't really expertise in the market," he said.

As a result of this gap in the market, Emmett said, there's a controversial trend - particularly in the US and UK - for lawyers in quieter practice groups such as banking and finance to "respray" themselves as insolvency specialists.

"Certainly there's a question mark over their ability to do that. You don't suddenly, overnight, go from being a securitisation lawyer to being a restructuring lawyer," he said.

Emmett said there was a notable absence of insolvency expertise among younger lawyers, many of whom entered the profession during the boom times when insolvency groups were well and truly out of the spotlight.

"It's certainly difficult to recruit younger lawyers with significant restructuring experience. But, having said that, younger lawyers are more valuable in that they're more able to reskill, relative to older lawyers who are too set in their ways," he said.

At the graduate level, however, it's a very different story, and Clayton Utz partner Karen O'Flynn said there was no shortage of talent wanting to get in on the action.

"Almost every young lawyer with whom I speak wants to be an insolvency lawyer," she said. "They think that this is going to be a growth area for the foreseeable future and that fits in well with their individual ambition."

- By Zoe lyon

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Wanted: insolvency lawyers
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Law Council of Australia
LCA calls for urgent adoption of ‘game-changing’ recommendation
The Law Council of Australia has urged for the immediate adoption of a key recommendation put forwar...
Sally Wheeler
Nov 20 2017
ANU College of Law appoints new dean
A distinguished legal academic and the former head of law of a higher education institution in Irela...
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...