Law360, New York (February 09, 2009, 12:00 AM ET) -- As traditional debtor-in-possession financing remains scarce despite the steady pace of bankruptcy filings, companies find themselves increasingly at the mercy of prepetition lenders and opportunistic investors that may be willing to finance a bankruptcy if it suits their own objectives, attorneys say.
While not necessarily creative, the different financing structures offered by these lenders reflect the constraints of the current DIP financing market and are often the only choice for companies floundering in Chapter 11 who do not have the luxury of seeking more novel or...
Alternative DIP Loans Available But Pricey
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