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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Chispas who wrote (102656)	4/11/2009 3:23:18 AM
From: Chispas	Read Replies (2) of 110194

Star-Telegram - "Carmakers' bust is boon for lawyers" . April 10, 2009 The prospect of auto-industry bankruptcies isn’t bad news for everybody. Haynes and Boone, a Dallas-based law firm with a Fort Worth office, has landed a Treasury Department contract worth up to $8.59 million to help restructure struggling automakers. Two New York-based firms also received similar Treasury contracts for the same amount, according to Steve Pezanosky of Fort Worth, who heads the firm’s bankruptcy and business-reorganizing section. The firms will provide advice on restructuring and debtor-in-possession financing for auto companies and suppliers, according to American Lawyer. With General Motors and Chrysler on the brink of bankruptcy, there’s plenty of work for the firm’s approximately 40 bankruptcy lawyers under the six-month contract. "We have a broad range of experience," Pezanosky said. "I think it’s a significant achievement for the firm." (With this move by US Treasury, the USG clearly plans to force bankruptcy - Chispas) star-telegram.com

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