Law firm Cadwalader Wickersham & Taft has recruited a team of four restructuring lawyers from a rival as financial services companies compete to hire top-talent ahead of an expected rise in bankruptcy and distressed selling mandates.

Cadwalader has hired George Davis, Deryck Palmer, John Rapisardi and Andrew Troop from Weil Gosthal & Manges as partners in its financial restructuring department in New York.