(Paperback)
Two experts in the legal and financial aspects of bankruptcy investing present this text for serious, though not necessarily large-scale, investors considering investment in the securities of troubled companies. The focus is on publicly traded instruments, but nonpublic securities are also discussed. The revised edition incorporates updates on a number of emergency trends and opportunities occurring since publication of the first edition, and expansion of the authors' prior views and findings. Branch teaches finance at the U. of Massachusetts; Ray heads the national bankruptcy practice of an American law firm. Annotation c. Book News, Inc.,Portland, OR
Corporate bankruptcies are at an all-time high, and this trend is likely to continue. Bankruptcy Investing introduces investors to the risky but lucrative opportunities to invest in the securities of troubled companies. Every area of this exciting field is described in complete detail. Real-world examples illustrate the explanations. Companies in distress may go through an informal or formal workout of problems, or they may enter Chapter 11 or Chapter 7 bankruptcy. The investment implications for the securities of firms in each of these stages are considered in full. Everything the investor needs to know is contained in this book. The authors show why it can be smart to invest in troubled companies.
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