November 11, 2008
Partners James S. Carr and Eric R. Wilson were noted in a Bankruptcy Insider article, "Liquidation Land."
It discussed the trends of liquidations and reorganizations in the midst of the current financial crisis. The article focused on the struggles in real estate and retail. It noted landlords top the lawyers' league tables.
The article stated, "Another landlord lawyer, Kelley Drye & Warren LLP's James Carr, raised his active assignment total 29% to 214 -- the largest assignment increase (48) -- placing fifth among his brethren."
The article also noted: "Eric Wilson of Kelley Drye & Warren (26 active assignments, tied for 70th among lawyers) in New York has noticed that in addition to retail, the "middlemen" sectors of manufacturing and goods transportation
are having just as much trouble and are a part of the increase in assignments for his firm. (Kelley Drye has 120 cases, tied for 18th among law firms, up from 101 in the second quarter)."
"While the costs of commodities, including oil, has been declining steadily since the end of the third quarter, Wilson says that up until then, their record highs had created problems for transportation, distribution, storage and freight
companies that all rely heavily on fuel. In manufacturing, the skyrocketing prices of raw materials in the third quarter hurt companies, too, he adds."
Reuters also distributed this article in multiple news outlets.