New Rules Pushing Turnaround Execs Out The Door

Law360, New York (April 26, 2006, 12:00 AM EDT) -- Tightened bankruptcy regulations may be preventing troubled U.S. manufacturing industries from attracting turnaround executives and retaining key players on management teams.

Some attorneys and turnaround executives are already seeing the negative effects of the Bankruptcy Abuse Prevention and Consumer Protection Act, which went into effect last October, and claim that the regulations are pushing struggling companies into an increasingly precarious position.

“Part of bringing in a turnaround CEO is to get lenders and the workforce to believe that there is a future. The vibe of the...
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