More Cos. Restructuring Out Of Court: Experts

Law360, New York (October 6, 2008, 12:00 AM EDT) -- Under pressure from a tight credit market, many companies — especially financial firms and private equity portfolio companies — are increasingly trying to escape insolvency through out-of-court debt reorganization instead of bankruptcy, experts say.

Lisa Donahue, co-head of AlixPartners' restructuring practice and current interim CFO of Calpine Corp., said that beginning last summer, when the current credit crisis began to pick up steam, her firm has seen more and more out-of-court debt restructuring deals.

Even when companies do file for bankruptcy, she said, they are likely...
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