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What Activities Will Lawyers Perform After Covid-19?
In these days of forced closure of the firms, many lawyers, in addition to ordinary work, are examining the emergency legislation issued by the Governments to try to better inform customers about the initiatives to be taken to resist in the lockdown situation.
The hope, of course, is to be able to leave as soon as possible.
But what lawyers will have to do once the emergency phase has passed?
Is it possible to fully return to normal or is it to be assumed that the post-emergency situation will require special activities and specializations?
To answer the question it is necessary to hypothesize the scenario that will be created.
In my opinion it is possible to imagine the following:
- there will be an increase in non-payments which will give rise to a large number of disputes
- there will be an exponential increase in corporate crises
- many companies will consider mergers in the hope that the growth in turnover and the reduction in costs that generally accompanies a consolidation will allow them to face the probable economic crisis.
If these forecasts are true then it is well understood that the law firms will have to equip (or strengthen) the litigation departments which will be responsible for directing customers, also favoring extrajudicial transactions where the disputes should not bring effects.
In addition, there will be a strengthening of the departments operating in the crisis and bankruptcy sectors, which will be responsible for working together with the labor lawyers to set up new ways of carrying out the work activity and, unfortunately, also workforce reduction procedures.
Lastly, the mergers and acquisitions sectors will also need to be activated because the crisis is likely to induce companies to evaluate mergers.
In summary, the hope is that, although knowing that the crisis will lead to a reduction in work for law firms, those who are the first to act will be able to resist and start again as soon as possible.
Massimiliano Desalvi, partner of Interconsulting for more than 10 years, provides consulting and he is experienced in litigation in the areas of civil and commercial law, bankruptcy and insurance legislation.
He coordinates the team of lawyers and young professionals in order to meet and respond to the challenging client’s needs concerning legal matters or disputes.