< meta name="DC.Date.Valid.End" content="20050825"> Amendment Nine: Debt Restructuring Cycle

Thursday, May 19, 2005

Debt Restructuring Cycle

Its coming to a close now, and I'm filled with nostalgic reflection. Worldcom, Enron, Adelphia, ah, those were the days. I'll post more on what we've learned a little later, at least one goose is still in the pot. For now, I'd like to recommend to any other vultures out there with a little time to read, Sol Stein's "Feast for Lawyers". Federalist gave me his copy awhile back, and I just finished it. Great book, slightly repetitive, and there are several "inside" references that no one except people directly involved in the Stein and Day Chapter 11 would ever understand. The best line in the book though is one I'll treasure:

Do you eat with your hands when a knife and fork are readily available? If you don't, in a Chapter 11 you'll meet people who do.

Those "people" are the bankruptcy bar, who Stein skewers with great accuracy. Good fun.