Crisis A Boon For Distressed Debt Buyers: Survey

Law360, New York (October 7, 2008, 12:00 AM EDT) -- The unfolding financial crisis will likely offer opportunities for investors in distressed debt, according to a new survey commissioned by Bracewell & Giuliani LLP from financial publisher Debtwire.

Debtwire surveyed a total of 100 hedge fund managers and traders. Ninety-one percent of respondents said they expected major banks to report more write-downs, and most agreed that the price of distressed debt would fall in the coming year, Bracewell announced Tuesday; the result would be a buyer's market.

"While the outside world can sometimes perceive distressed debt...
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