Lawyers Stuck on Cleanup Crew in Leveraged Finance Deals Vacuum

Wall Street’s leveraged buyout machine kept Big Law firms busy printing up deal documents for more than a decade. But it’s been nearly two years since the gears got gummed up, and lawyers are still largely stuck in cleanup mode helping banks, companies and debt holders deal with what’s known as hung debt. Rich Spehr, co-leader of Litigation & Dispute Resolution, is quoted.