This is what being a lawyer is all about. In a buoyant economy, firms go big on corporate finance – start-up costs, funding and flotation. And when the bubble bursts, you still get the work, but this time it is the insolvencies.
E-exchange is the third dotcom insolvency SJ Berwin has been involved in recently, including clickmango.com and LeisurePlanet.com, and there are more in the pipeline. The firm is winning the work because of investors who already have relationships with SJ Berwin through private equity or corporate finance work – the firm was brought on board on the E-exchange case by investor Grant Thornton. E-exchange is a particularly interesting case because it is one of the first business-to-business dotcom collapses.