Bankruptcy Practice: DLA Piper

Law360, New York (July 16, 2008, 12:00 AM EDT) -- Companies entering Chapter 11 during the current economic downturn will likely do one of two things – have a prepackaged plan to get out of bankruptcy court quickly or liquidate, said restructuring lawyers with DLA Piper LLP.

The 2005 amendments to the bankruptcy code made it harder and more expensive for companies to reorganize, said Mark Berkoff, co-chair of the firm’s restructuring practice.

“We’re seeing more out of court restructuring. Having an agreement going into Chapter 11 is a more efficient and less expensive process,” he...
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