Phil Anker, in this article published by DailyDAC's Commercial Bankruptcy Litigation, explores the interesting aspects and unique issues of law firm bankruptcies.
Excerpt: One of the interesting aspects of business bankruptcy cases is that both the businesses and the issues their bankruptcy proceedings present can differ so much. In recent years, for example, we have seen department stores (Macy’s, Federated), toy retailers (Toys R Us), bookstore chains (Borders), automobile manufacturers (GM, Chrysler), supermarkets (A&P), auto supply companies (Delphi), securities firms (Lehman Brothers), oil and gas E&P companies (Ultra Petroleum, Energy XXI), telecom outfits (WorldCom, Adelphia), and energy companies (Enron, EFIH) file for bankruptcy. And these are just a small sampling of some of the more prominent debtors in a few industries.
