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"Turnaround" or "crisis" managers can play a critical role in achieving a successful reorganization (including the sale or liquidation in Chapter 11) of large organizations. The benefits provided by qualified crisis managers can far outweigh the detriments, and the Bankruptcy Code, with the supervision of the court, is often flexible enough to be stretched to serve the interests of key parties in a case.
June 14, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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