ToTransferOrNot wrote:Meh. Hoping to not be worrying about exit options. Lol @ that possibility in 10 years, but oh well.
I'm not sure I've heard of BK attorneys going in-house to handle a corporate bankruptcy. I'm sure it has happened in mid-market situations, but eh. BK judgeship all the way!
Why not just go in-house as a generalist? The best part of bankruptcy is that you can credibly say you've done a little bit of everything.
Eh, in the really high-end bankruptcy groups (i.e., Weil, Kirkland) not really. The bankruptcy group basically farms out the non-bankruptcy issues to the other practices in the firm. For example, though a bankruptcy attorney will generally be around for important depositions in a huge fraudulent coveyance action, they won't be the one taking the dep - a litigation associate will be doing it. When the papers are being drawn up for the capital aquisition etc. in the reorganized company, corporate (or finance, depending) people will draw those up. When you're handling a 363 acquisition, your private equity lawyers will do most of the paperwork.
The BK guy is basically there to do the things unique to bankruptcy - drawing up the plan of reorganization, dealing with the committees, dealing with valuation hearings, blah blah. It's really high-end, difficult work, but it's highly specialized. My understanding is that it doesn't translate very well to any other practice.
Edit: OTOH, at least at the firm I'm going to, bankruptcy people have a higher % chance of making partner, so hopefully exit options won't even be a consideration. I'm shooting for the 1/8.