In an era of escalating hourly rates, especially in bankruptcy court, the former head of the restructuring practice at two leading Am Law 100 firms has started his own firm in New York, hoping to capitalize on the smaller environment.

Bruce Zirinsky, who has long been one of the top bankruptcy lawyers in the Big Apple, formed Zirinsky Law Partners late last year, according to New York business registration records. Zirinsky, who left Cadwalader, Wickersham & Taft for Greenberg Traurig in a high-profile 2009 lateral move, recently grabbed a lead role advising Republic Airways Holdings Inc. in its bankruptcy case. The assignment has already pumped more than $1.1 million into his new firm’s coffers.