The Bankruptcy Racket

Marino, Jonathan
October 2009
Mergers & Acquisitions Report;10/26/2009, Vol. 22 Issue 43, p4
The article focuses on the impact of the credit market crisis on companies on the verge of bankruptcy as highlighted by Henry Miller, co-founder of Miller Buckfire, at the Third Annual Turnaround Management Association/Association for Corporate Growth Conference in fall 2009. Miller claimed that the lack of liquidity in the leveraged loan markets is the worst he had seen, and he advised private equity professionals to look for a DIP loan aggressively. However, William Lenhart of BDO Consulting said there is not much DIP lending available.


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