An interesting article in today's 'Wall Street Journal' highlights the predicament facing many larger law firms as the level of lawsuits against banks, particularly in the US, increases in the aftermath of the recession.
In normal circumstances, ethical rules prevent law firms investigating or bringing actions against banks that they have represented in the past. As a result, many smaller firms - who typically do not have banks as their regular clients - are beginning to win matters which require them to file cases against the banks.
In this blog in the past, we have highlighted the fact that the recession has forced many mid-sized businesses to look critically at how they buy professional services - a trend that has, on a significant number of occasions, benefitted the member firms of MSI Global Alliance (www.msiglobal.org).
With potential conflicts further accelerating the shift towards the mid tier, there is further evidence of the gradual redefintion of the legal services market.
James Mendelssohn (jmendelssohn@msiglobal.org)
Chief Executive
Thank you everyone from the comments.If you don't mind passing this story along to anyone you'd think you'd like it I'd greatly appreciate it.
Posted by: Coils & Sheets Suppliers India | April 08, 2011 at 09:48 AM