If there is no doubting the severity of the current downturn, there is at least one pleasing contrast with the last recession. Interest rates are at historically low levels, giving troubled companies and their financial creditors more time to seek solutions to solvency problems.
Otherwise, however, the process of restructuring troubled companies â with the aim of retrieving lenders' money and, if possible, preserving a healthy underlying business â is dramatically more complicated than it was a decade ago. Consider the following four factors:
