Credit Crunch Has Allowed Creditors To Take Charge

Law360, New York (March 6, 2008, 12:00 AM EST) -- As the ongoing turbulence in the debt markets pushes more companies to the brink of bankruptcy, the economic climate is changing the way creditors handle distressed situations, and many corporations are finding that the liquidity crisis means their creditors are primed to play hardball.

Restructuring professionals are reporting the return of the assertive creditor, and it's got everything to do with the credit crunch.

“It's not just something in the water,” Kristopher Hansen, a partner at Stroock & Stroock & Lavan LLP, confirmed.

When credit was...
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