McKool Smith Principal Gayle Klein contributed to The American Lawyer's article "Big Law Litigators See COVID-19 as a 'Recipe for Litigation'." The article discusses the consensus from Big Law litigators regarding the coronavirus pandemic. Gayle stated “We are going to be very busy,” and noted the firm's robust practice litigating against insurance companies and banks. “There will be a wealth of litigation between lenders and companies.” She predicted some disputes will revolve around whether corporations are in line with their debt covenants, as well as conflicts over lease payments. “The business cycle is a cycle, and we’ve been at the top for longer than normal. Now we’re seeing a major correction in the market,” ...predicting “a lot of bankruptcies and a lot of deals that will have gone wrong.”
Read the full article here.