As the Wheel Turns: New Dynamics in the Coming Restructuring Cycle

Although predictions are inherently risky, even a cursory review of recent business headlines in the United States might raise the question whether, after years of increasing leverage and frenetic private equity activity, corporate restructuring is on the threshold of a resurgence. If so, the next cycle of US bankruptcies and restructurings is likely to be measurably different from – and considerably more contentious than – prior cycles.