More Bankruptcies Around the Corner


	More Bankruptcies Around the Corner

Victoria Barret

4-15-2008 10:47 AM

311 views

tags:

economy, bankruptcy, chapter 11, debt

Victoria Barret says:

Distressed corporate debt has skyrocketed in the last year. Bankruptcy filings will follow.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b1e71277-5214-420a-ad40-1e25fb2df725/150C421B-79F0-46B8-B36E-F685155BB493/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=20601109&sid=ar84gQGhY7Ic&refer=home" href="http://www.bloomberg.com/apps/news?pid=20601109&sid=ar84gQGhY7Ic&refer=home" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601109&sid=ar84gQGhY7Ic&refer=home">The amount of distressed corporate bonds jumped to $206
billion April 11 from $4.4 billion in March 2007, according to a
<A href="http://www.bloomberg.com/apps/quote?ticker=MER:US">Merrill Lynch & Co.</A> index of bonds yielding at least 10
percentage points more than Treasuries. The share of leveraged
loans considered distressed was 16 percent at the end of March,
the highest since 1997, says Standard & Poor's, based on loans
trading below 80 percent of their face value.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601109&sid=ar84gQGhY7Ic&refer=home"><P>Bankruptcy filings have just begun to increase. According to
court records compiled by Jupiter eSources LLC, Chapter 11
business bankruptcies, including small, nonpublic companies,
increased 16 percent in the first quarter of 2008. Under Chapter
11 of U.S. bankruptcy law, a company seeks court protection from
creditor lawsuits while working out a reorganization.     </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601109&sid=ar84gQGhY7Ic&refer=home">Subprime was just a paradigm for the credit markets
overall</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/150C421B-79F0-46B8-B36E-F685155BB493/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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