Managing The Bankruptcy Litigation Review Process

With recent financial market instability and increasing economic uncertainty, some bankruptcy litigation attorneys are bracing for an anticipated increase in litigation matters related to both individual and corporate filings. Bankruptcy litigation requires a high level of diligence and attention to detail, because there are often numerous contracts and claims to manage and reconcile. Reviewing relevant documents and communications, managing claims, and evaluating the accuracy of claims brought during the litigation process, are all necessary steps. Nevertheless, these actions can be time-consuming and costly for law firms.

The following best practices can help firms manage the bankruptcy litigation process for both contested matters and adversary proceedings:

1. Identify the “what” and the “why.” Attorneys managing the litigation review process must identify relevant documents before those records can be reviewed for privilege, confidentiality, work-product, and issues. The importance of this step should not be overlooked; effectively identifying and reviewing relevant documents may be instrumental in resolving litigation in favor of the firm’s clients.
2. Be prepared to preserve records. Maintain a reliable database and document repository for relevant contracts, communications, documents, claims, testimony of witnesses in contested matters, and other records related to the bankruptcy litigation. As with other sensitive records, it is critical that bankruptcy litigation documents be maintained in such a way as to ensure confidentiality and privacy.
3. Leverage technology. Using technology in the discovery process can improve efficiency and accuracy when reviewing documents. Use keyword searches, concept reviews, date range solutions, and other tools that can identify and eliminate duplicate records while significantly lowering the time and expense generally associated with discovery preparation.
4. Consider outsourcing document reviews. Rather than having firm associates or paralegals manage the document review process, or engaging contract attorneys to do the work, consider using an outside provider to reduce costs. 

Baer Reed has an experienced team for assisting with document review that can provide significant time and cost savings for law firms while freeing up in-house legal talent to focus on case strategy. We provide a variety of cost-effective business and legal outsourcing solutions to law firms and corporations. Contact us to learn more!