Bankruptcy Professionals Struggle As Filings Plunge

Law360, New York (July 28, 2006, 12:00 AM EDT) -- With Chapter 11 filings drastically down, law firms and restructuring firms are scrambling to adapt to the lull in corporate bankruptcies, with some floundering while others manage to hang on.

Since 2002, low interest rates coupled with an enormous amount of liquidity in the marketplace have helped lead to the dramatic nose-dive in corporate bankruptcies.

A comparison between Chapter 11 filings in the first half of 2006 and the same period from the previous four years shows a precipitous overall drop in the number of filings....
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