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Restructuring industry evolves, looks to Europe

Published September 29, 2011 at 4:00 AM

Prior restructurings have caused fewer companies to file for Chapter 11, says Marcia Goldstein, chair of the business finance and restructuring department at Weil, Gotshal & Manges LLP, which was ranked third by volume on The Deal Pipeline's latest bankruptcy league tables. Goldstein says she is, however, seeing activity in shipping and transportation, healthcare and mortgage-related securities cases. Goldstein also addresses the impacts the European debt crisis is having on the restructuring industry, saying, "I think that more distressed debt investors are looking to Europe," and as a result, companies there are "seeing more opportunity because of pressure on the European banks to sell nonperforming loans." - Sarah Hashim-Waris



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