Limited Financing Forces Creativity In Restructuring

Law360, New York (October 14, 2009, 4:20 PM EDT) -- What some are calling the great recession has become the great restructuring, with companies weighted down with debt when loans were easy forced to figure out a way to cut off some of the ballast in order to survive.

“It's just too much debt,” said Jon Henes, a bankruptcy partner at Kirkland & Ellis LLP. “At some point, many of these companies are just going to have to do a restructuring.”

But with debtor-in-possession financing coming in at steep interest rates, if it's available at all,...
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