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The re-emergence of distressed exchanges in corporate restructurings

Altman, Edward et al.
NYU Faculty Digital Archive · Papers
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multidisciplinary
In 2008 and 2009, bondholders of ailing companies were affected by a reemergence of an important corporate restructuring strategy, known as a Distressed Exchange. Fourteen companies in 2008 completed this desperate attempt to avoid a formal bankruptcy filing – about twice as many as any single yea
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