Kirkland & Ellis is preparing to poach Joshua Feltman, head of Wachtell Lipton's restructuring practice, with an $80mn guaranteed pay package over three years. The move aims to rebuild Kirkland's distressed debt capabilities after losing star partner David Nemecek to Simpson Thacher earlier this year.

Wachtell, considered the top US corporate law firm, has experienced unusual partner departures to rivals amid intense competition for dealmakers. Feltman's departure would represent another significant loss for Wachtell, which has lost several partners to competitors in recent months.

The bidding war for legal talent intensifies as firms vie for expertise in restructuring and distressed debt. Kirkland's aggressive recruitment strategy demonstrates how law firms are investing heavily in specialized practices during a period of market uncertainty and potential economic downturn.