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Bankruptcy Practice: Dechert

Law360 (January 7, 2009, 12:00 AM EST) -- Hedge funds affected by the current economic downturn are entering uncharted legal territory as they attempt to restructure, according to H. Jeffrey Schwartz and Charles I. Weissman, co-leaders of Dechert LLP’s business restructuring and reorganization practice.

“This is the first time there has been a downturn in the economy when so many hedge funds are out there,” Weissman said. ”In the '90s, there were not many and even in the early 2000s, they were not as prevalent as 12-to-18 months ago.”

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