Ed. note: Welcome to our daily feature, Quote of the Day.
So, while a downturn would certainly impact our more profitable areas like M&A, capital markets and some types of lending transactional work, with the countercyclical practices we have built up, we see opportunities to balance any downturns if it does come to that. At this point, we’re a bit sanguine on what the actual impact will be, because economists have not been able to predict what the impact on client demand will be.
— Peter Nelson, managing partner of Dorsey & Whitney, told Law.com that his firm is already thinking about the ways the war in Iran and the economic fallout from that could impact their business. Nelson added that he’s pleased with Dorsey’s positioning, adding, “When you see the type of workout work we were seeing last year, it is often a harbinger there is more bankruptcy work coming. We are well-positioned to capture that when it does come.”
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