Really cool discussion in the comments here if anyone's interested.
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You thinking declare BK, wipe out the creditors and pensions, and emerge as low cost producers?
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It’s called a solvent debtor in the US The debtor holds exclusivity on proposing a plan and can often create an opportunity to cram down existing creditors into worse securities Judges don’t look too kindly on situations that could have been resolved out of court but file
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IB personnel in particularly exposed industries are being assigned to “distressed credit risk” groups, training to start next week..
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Thank you so much for that information. :) Any industries in particular that are considered really bad?
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Bankruptcy is not free. Costs lots of cash. DIP financing expensive.
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Sure no question about that.
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I mean, this is basically what property developers do every cycle
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Why not just buy those without credit risk but still trading like the world is ending?
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Definitely will consider it but I want to think about these things in case there are really good opportunities that show up.
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