The Coming Rise In Distressed M&A

Law360, New York (May 8, 2008, 12:00 AM EDT) -- Historically, companies facing financial distress have had four main exit strategies: (1) refinance their existing lender, (2) recapitalize their balance sheet by raising additional equity, (3) restructure their debt, or (4) sell the business. Depending on the circumstances, each of these exit strategies can be effectuated either in or out of bankruptcy.

Often, two or more of these solutions can be used in combination to optimize results. In recent years, restructuring debt under Chapter 11 has become more difficult due to the aggressive tactics of hedge...
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