The following is an excerpt from the article:
In recent years companies have negotiated a deal and then filed for Chapter 11 protection, hoping for as short a time as possible in bankruptcy. That may change, said Martin Sosland, a bankruptcy lawyer in Dallas with Butler Snow.
“What you are more likely to see is old-fashioned Chapter 11s,” Sosland said. The company will linger in court to get “a breathing spell to reorganize or sell at a higher price.”
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