Restructuring Pros Find Little to Like in Revisions to Bankruptcy Code

Summary

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Members of the Turnaround Management Association who responded to a Jun 2005 poll give a thumbs down to many of the provisions of the Bankruptcy Code that they believe make it more difficult for companies to reorganize under what they perceive is a more creditor-friendly law. When asked what impact the revisions to the Code would have on respondents' personal practices, the overall response was divided, with 39% saying it would have little to no impact and 44% saying the changes would make their work more difficult. Only 9% thought the new Code would make it easier to practice their specialty.

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Extract

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Restructuring Pros Find Little to Like in Revisions to Bankruptcy Code

Just three months before enactment of the revised Bankruptcy Code, many corporate renewal professionals are still scratching their heads as they try to determine what the impact will be on their work with companies ...

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