Chief Restructuring Officers And The Bankruptcy Code

Law360, New York (October 23, 2008, 12:00 AM EDT) -- While relatively new to the bankruptcy scene, Chief Restructuring Officers (CROs) have become regular players and valued participants in the reorganization process.

CROs serve the useful purpose of bridging differences between debtors and their creditors if they are perceived as honest, experienced and capable.

Indeed, CROs are oftentimes a prerequisite to the extension of further financial accommodations by creditors of a distressed debtor.

CROs also permit management to focus on a debtor's day-to-day operations and on achieving business goals, free of distraction by the gritty administrative...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.