Wayne Egan, Managing Partner at WeirFoulds recently weighed in on his views of the legal trends lawyers should expect in 2022 with the Law Times. In an article published on February 8, 2022, Wayne predicts more bankruptcy and insolvency work for law firms and says that a primary goal for WeirFoulds’ management team in 2022 is to ensure associates are not stretched too far and are prioritizing their mental health.
Many businesses have endured financial blows from COVID, and Wayne says that as is typical in challenging times, many companies that have tried to hold on through some difficult periods may end up having to file for bankruptcy or other creditor protections as the pandemic ends.
Lawyers were busier in 2021, and Wayne feels some of that is due to clients focused almost exclusively on their business and pursuing legal matters. The firm expanded during the pandemic, to respond to the challenges in finding ways to further service clients and ensure high satisfaction.
Wayne, also a practicing securities and corporate lawyer, says the firm’s securities practice was busy as the markets were strong and many clients raised money in 2021. The commercial litigation group was active and the firm’s construction group was busy advising consultants and companies involved in various stages of construction projects. Due to employment departures from COVID or business-related issues around the pandemic, he says the WeirFoulds employment and labour group has also been busy. Generally, all the firm’s practice areas were busy in 2021.
Lawyers are working to maintain connections in the virtual world, but people are fatigued by Zoom and virtual meetings. “We have to find other ways, and hopefully, our public health situation continues to improve, and restrictions get removed or lessened so we can be together and do things face to face.”
To read the full article in the Law Times, click here.