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Mega Bankruptcies Set To Crack 100 Next Year

Law360 (December 1, 2008, 12:00 AM EST) -- An increasing number of defaults on speculative grade debt could push more than 100 companies with a market capitalization over $100 million into bankruptcy in each of the next two years, according to a report released Monday.

Bain Corporate Renewal Group, the restructuring arm of the corporate consulting group Bain & Co., expects to see the number of bankruptcies of $100 million companies swell to between 95 and 120 in 2009 and slip slightly to around 100 in 2010.

Those estimates are based on an expected...
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