December 17, 2002
Business Reorganization and Restructuring partner Marc Abrams was interviewed for the cover story of the December 16th edition of Crain’s New York Business on the growing trend for big bankruptcy cases to be filed in New York City.
Business Reorganization and Restructuring partner Marc Abrams was interviewed for the cover story of the December 16th edition of Crain’s New York Business on the growing trend for big bankruptcy cases to be filed in New York City. The article, which examines why more large companies are choosing to file for bankruptcy in Manhattan rather than Wilmington, Del., also discusses some of the residual benefits to the city as a result of accommodating hordes of investment bankers, lawyers and other participants in these massive cases. Mr. Abrams told Crain’s that lawyers from across the country convene in New York for creditor committee meetings, bondholder meetings and trial dates. He said, “Each trial is like having a couple of conventions come to town.” Mr. Abrams, who Crain’s notes is the current Chair of the Bankruptcy and Corporate Reorganization Committee of the Bar Association of the City of New York, is currently representing Adelphia Communications Corp. in one of the largest U.S. bankruptcy proceedings. Marc Abrams is a partner in Willkie’s Business Reorganization and Restructuring Department in New York.