Alston hires 2 restructuring lawyers among competitors, amid expectations of rising bankruptcies
With interest rates and inflation rising, Leah Fiorenza McNeill, new partner at Alston & Bird in Atlanta, expects an increase in restructurings and bankruptcies over the next year.
McNeill, who joined Alston & Bird’s restructuring and financial reorganization group this week from Bryan Cave Leighton Paisner, focuses on advising clients in the health and food sectors. And continuing to expand the restructuring practice, Alston & Bird this week also added New York-based attorney Stephen Blank, who joins from King & Spalding.
McNeill said there will be clients moving with her to Alston & Bird as well as an “overlapping clientele”.
“Those in my area believe that bankruptcy and the area of restructuring and solvency will likely pick up in the next couple of years, although many in this industry have been predicting this rise for years and it hasn’t happened. materialized,” McNeill said in an interview. “That may not be the case, but with current macro indicators such as inflation and rising interest rates, it tends to indicate distress.”
While at BCLP, McNeill represented struggling healthcare organizations, including community hospitals, skilled nursing facilities, healthcare REITs and retirement communities, in Chapter 11 cases and extrajudicial training,
“It’s not that I couldn’t do it in my previous business, but I think with the depth of Alston & Bird and their focus on the healthcare and food and beverage industry , the number of resources and knowledge they have in these two areas, we will be better able to serve our customers in these areas,” she said.
McNeill said she was “delighted to be at Alston & Bird”, noting the firm’s resources, depth of knowledge and strength of the lawyers. “I expect that together with Alston & Bird’s elite healthcare and food and beverage team and with my experience, we can truly achieve great things for our customers,” he said. she declared.