On November 17, 2022, Lex Machina hosted a webcast on the recently released Bankruptcy Report 2022. The webcast featured Guy Fustine (Shareholder at Knox Law Firm), Laura Hopkins (Lex Machina’s Legal Data Expert in Bankruptcy), and Aria Nejad (Lex Machina’s in-house counsel).
During the webcast, panelists discussed the latest trends in Chapter 11 bankruptcies over the last five years and offered insights on judges, parties, law firms, case filings, timing, and more. The webcast included a look at case filing trends in connection with plan confirmations and involuntary petitions.
“We have comprehensive judge data,” Laura Hopkins noted. “We’re the only ones to have comprehensive judge data. If you’re researching a judge, it’s really helpful to have all of the dockets, documents, opinions, motions, and objections that have been before that judge to see . . . how the judge has ruled on in the past.”
“Bankruptcy judges really function as the judge and jury,” Guy Fustine observed. “. . . These statistics are helpful because if you find yourself in one of these districts, they’re always good [to know]. ‘Know thy judge’ is one of the very important maxims of a successful bankruptcy practitioner, and you want to be ready to comply with that particular judge’s processes and procedures. [These analytics] helps to identify what judge you might be in front of.”
“I like representing creditors’ committees,” Guy Fustine added. “It’s competitive. It’s a little bit like a beauty contest. If you can get yourself invited to the organizational meeting of the creditors’ committee and have an opportunity to pitch the committee . . . these statistics are helpful. I like to use the statistics to beef up my credentials by, for example, [demonstrating the] percentage of confirmed plans and what you know about operating companies and what you know about creditors’ committees in particular. So, I think the statistics are useful in this . . . [Also,] I’m always looking for statistics like yours whenever I have to give speech or make some comments
about bankruptcy law on some event.”
Listen to a recording of the webcast or read the transcript.