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In Vault’s 2025 practice area rankings, Kirkland & Ellis; Weil; Paul, Weiss; Davis Polk & Wardwell LLP; and Latham & Watkins top the list of the most prestigious firms for Bankruptcy/Restructuring.
Kirkland & Ellis
In convincing fashion, Kirkland captures first place again in Vault’s 2025 Bankruptcy/Restructuring prestige rankings. This megafirm also leads the field in three other practice areas: Banking & Financial Services, General Corporate Practice, and Products Liability. It holds the No. 2 ranking for Energy, Oil and Gas; General Commercial Litigation; M&A; and Tax. In addition to four other top 10 Vault practice areas, it is one of the top five firms for Intellectual Property (No. 3); Antitrust and Real Estate (No. 4); and Appellate Litigation, Environmental Law, and Securities & Capital Markets (No. 5). Thus, Kirkland offers many opportunities for associates with various practice interests. It also operates out of many locations. The firm has established 11 U.S. and 8 international offices. In Vault’s regional rankings, Kirkland is among the top 5 firms in Chicago (No. 1), the Midwest (No. 1), Texas (No. 2), Southern California (No. 3), Boston (No. 5), and Northern California (No. 5) and holds two other top 10 spots. The firm employs 3,500 first-class attorneys, and those in good standing can expect to make non-equity partner after six years. Lawyers can find positions in-house, with other well-respected firms, or in the government. Few attorneys make equity partner at Kirkland, but all associates will experience BigLaw life in a professional environment with smart, driven colleagues.
Weil
A prominent player in notorious corporate bankruptcies and restructuring deals, Weil lands in the No. 2 spot in Vault’s Bankruptcy/Restructuring rankings. Weil is also among the top 20 firms in nine other Vault top 20 practice areas and captures a spot in four Vault top 15 regional rankings. The firm employs approximately 1,300 attorneys, who work out of seven domestic and seven international offices. Associates describe the culture as friendly and supportive, giving high praise to each other and to staff members. The firm does not impose a billable hour requirement, and associates say that work, which is assigned equitably through a coordinator, typically aligns with their experience level. The ability to advance to partnership at Weil is realistic, and the promotion process is clear. Moreover, the firm’s reputation and committed partners help associates move in-house or take advantage of other stellar exit opportunities.
Paul, Weiss
With five offices in the United States and five offices overseas, Paul, Weiss is the No. 3 firm in Vault’s Bankruptcy/Restructuring rankings. It boasts 13 other top 20 Vault practice rankings, with three practices in the top five: White Collar Defense & Internal Investigations (No. 1), Appellate Litigation (No. 4), and Securities Litigation (No. 5). Associates say that the environment is collegial and supportive. In fact, kindness is an important attribute of job candidates hired by Paul, Weiss, and an attitude of cooperation, not competition, is fostered by the lack of a billable hour requirement. Nevertheless, associates say that long hours can be expected because work is plentiful. With the firm landing in the No. 8 spot in Vault’s Business Outlook rankings, the 1,000 lawyers who work at Paul, Weiss can look to the future with optimism. Partnership is an option for determined and patient legal stars, and although exit opportunities are excellent, Paul, Weiss does not have an up-or-out culture. Long-term counsel positions are available.
Davis Polk & Wardwell LLP
Sitting in the No. 4 position in Vault’s Bankruptcy/Restructuring prestige rankings, Davis Polk holds 12 other top 20 Vault practice area rankings, including the No. 1 spot in Securities/Capital Markets, No. 2 position in Banking & Financial Services, and No. 4 place in Tax. It also places in two regional Vault rankings, including the No. 3 position for New York. With approximately 1,000 lawyers, the firm offers counsel positions to senior associates, some of whom can, over time, successfully move into a partnership role. Exit opportunities are excellent. Work is distributed evenly, and associates appreciate that the firm has not set a billable requirement. Davis Polk attorneys can, however, expect to bill 2,000 per year. Although their hours can be long, associates say that they work alongside polite and respectful colleagues, who work out of three U.S. and seven international offices.
Latham & Watkins
Latham & Watkins broke into the top No. 5 firms in Vault’s Bankruptcy/Restructuring rankings in 2025. This move puts the firm in 15 top five Vault practice area rankings, namely, Antitrust, Clean Tech/Renewable Energy, Project Finance, and Securities/Capital Markets (No. 2) and Banking & Financial Services; Energy, Oil & Gas; Environmental; Law, Media, Entertainment & Sports; and Private Equity (No. 3), as well as General Corporate Practice, International, M&A, Real Estate, and Tax (No. 5). The firm places in 10 other top 20 practice area and 7 top 10 regional Vault rankings. Among the top five firms for Bankruptcy/Restructuring, Latham sits the highest in the Vault Law 100, ranking No. 4, and it is recognized for nine top 20 Vault quality-of-life rankings. The firm operates out of 12 offices in the United States and 17 offices overseas with a cohort of 3,000 attorneys. Associates contribute to a friendly workplace while meeting the firm’s 1,900-hour billable requirement. To advance their careers elsewhere, Latham attorneys can secure positions with clients and in the government. They can also move into clerkships. Those who stay for the long haul follow a transparent promotion pathway to counsel and non-equity partnership, with some making equity partner.
The elite firms in Vault’s top five firms for Bankruptcy/Restructuring are prime destinations for attorneys interested in this and related corporate practices. To learn more about different legal practice areas, including Bankruptcy/Restructuring, students are encouraged to look at the Vault Practice Area Resource Center, which includes Q&As from attorneys with experience in different areas of law.
Students can also learn about specific summer programs at Vault’s Summer Program Resource Center web page. Practicing attorneys and law students wanting to identify a prestigious firm in a specific part of the United States can click on the Vault’s Regional Resource Center to find highly ranked firms in their preferred geographic location.
Job seekers are also urged to delve into the Vault profiles of the firms on the Best Firms for Bankruptcy/Restructuring list and other firms in the Vault Law 100 and Best Midsize Firms rankings. By comparing and contrasting unique firm attributes described in these profiles—including hiring practices, compensation, pro bono opportunities, and firm culture described by lawyers who completed the Annual Associate Survey—attorneys looking for a position can generate a prioritized list of law firms before sending applications.
Best of luck on your legal job search from all of us at Vault Law!
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