Does anyone have any recommendations for resources to understand a law firm's restructuring practice eg Weil, Milbank?
Would it be accurate to say that these larger firms with high fees are typically only brought in 1. closer in time to avoid formal insolvency by improving liquidity or 2. in preparation for formal insolvency proceedings once it becomes clear a company will go insolvent? As an extension, I heard that debt buybacks, equity cures, PIK interests, are transactions that take place earlier when a company is yet to be in major financial difficulties. If the answer to my initial question is yes, would this mean firms like Weil or Milbank wouldn't be as involved in those transactions?
Thank you
Would it be accurate to say that these larger firms with high fees are typically only brought in 1. closer in time to avoid formal insolvency by improving liquidity or 2. in preparation for formal insolvency proceedings once it becomes clear a company will go insolvent? As an extension, I heard that debt buybacks, equity cures, PIK interests, are transactions that take place earlier when a company is yet to be in major financial difficulties. If the answer to my initial question is yes, would this mean firms like Weil or Milbank wouldn't be as involved in those transactions?
Thank you
