Kirkland Is Increasingly Turning to NJ for Huge Chapter 11 Bankruptcies. Will Other Big Law Follow?

According to dockets, Kirkland & Ellis was involved in 10 bankruptcies in New Jersey over the past two years, which is exactly the same number of bankruptcies the AmLaw behemoth was involved in in the Garden State over the preceding 30 years from 1992 to 2022.

Clearly, someone has taken note that New Jersey is an ascendant venue for Chapter 11.

“It’s welcomed news for practitioners, who are focused or have a presence in New Jersey, when a very large and complex case like a Rite Aid is filed here,” said Warren Usatine, managing partner of Cole Schotz, a Hackensack-based firm that has a focus on bankruptcy. “There’s plenty of opportunity for New Jersey-based people to co-counsel with folks from out of town.”

“We are fortunate to have a bench that has a lot of sophisticated former Chapter 11 practitioners on it, so they really know their way around Chapter 11,” Usatine said. ”When New Jersey is an option, the sophistication of the bench makes it a very good choice.”

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