As part of The Qualification Season a series of blogs by CapeClarke aimed at trainee solicitors looking to qualify in September 2018 we will give a brief overview of the market conditions affecting many of the core legal disciplines that trainee solicitors look to qualify into.
The next area of law for discussion is Insolvency and Restructuring.
The Current Market
Insolvency teams are generally not as busy as they were in 2015-2017. The higher level restructuring work is still bearing fruit though, which tends to be the battling ground for the top tier firms in Leeds and Manchester.
In recent weeks we have seen the liquidation of Carillion; this no doubt will see some of the 30,000 suppliers being negatively affected. The fallout from this could last for years.
Is this a good career option?
You hear of insolvency generally being busy and, as a safe and steady career option, it is a good discipline to think about. That said, insolvency teams are generally very finely balanced, keeping solicitors busy but not really requiring much growth and requirements generally only arise when someone leaves.
It does represent a good learning ground for those wishing to move in-house later in their careers. Insolvency lawyers have long been regarded as very commercial, this being an attribute that the in-house world values hugely.
September 2018 opportunities
With their currently being a relative lack of work in this sector, we do not envisage there being too many external NQ roles in the summer of 2018.
If you have been thinking about a move or would just like some general advice about options in the market, please feel free to contact one of our dedicated consultants on 0113 2385965 or 0161 3000750.
CapeClarke is a leading niche legal recruitment consultancy operating across Leeds, Manchester, Sheffield, Newcastle, Liverpool and London. Please feel free to check out our priority legal vacancies by clicking here. Please note these legal vacancies are only a small selection of those we have been instructed on, so please get in touch if you do not see a role which looks suitable.