1990 - Bankruptcy Practice Grows with Work from Continental AirlinesPDF
Since 1990, Delaware has been the venue for nearly half of the nation's largest bankruptcy filings, and Morris Nichols has actively participated in many of its most sophisticated proceedings. Along with the firm's traditional corporate practice and its patent work, a growing specialty in bankruptcy became the third leg of what Morris Nichols partner Lewis S. Black, Jr. called the "three-legged stool" of Morris Nichols contemporary practice.
The bankruptcy practice grew from veteran attorney Paul Welsh's strong client relationship with Continental Airlines. In the summer of 1990, Welsh successfully defended Continental in a difficult stock list case before the Delaware Court of Chancery. Shortly following that victory, Continental turned to Morris Nichols to file bankruptcy in Delaware. Soon after, TWA also enlisted the firm for bankruptcy representation in Delaware.