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�鶹��� partner and Restructuring co-head Damian Schaible recently was featured in the American Lawyer’s April cover story discussing the outlook for bankruptcy this year.

Damian noted that he sees opportunities in the current market for liability management and out-of-court bankruptcy management, saying, “Bankruptcy has gotten more expensive. And if you can do it out of court, you can save a lot of money for the investors.”

“I think the entire restructuring community is busy right now,” Damian said. “You have 2024 maturities that are not looking like they are so easy to finance and companies will have to deal with them. During COVID, everyone stuffed their cheeks, and that liquidity is starting to die out and that means the market is much busier.”

He said that he expects to see an increase in “bootstrap M&A” in 2023 due to companies being “overleveraged, but not distressed.”

“Sponsors can’t refinance in a regular way, and they don’t want to default,” Damian continued. “They are willing to put new money in, but they want an extended runway.”

“,” American Lawyer (March 23, 2023) (subscription required)