There is an argument to be made that litigation is counter-cyclical to the economy. When the country tanks, as when the banks collapsed in 2008, the big law firms get a welcome bounce as they move in to mop up the mess. When recovery comes around, demand for litigation recedes. This was evident during the last recession when the Commercial Court, designed as a forum for large business transactions and disputes, mutated into a packed-out, high-end debt court pitting the banks and Nama against developers and businessmen up to their oxters in multi-million euro debts, usually secured against devalued property…

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