Scott Williams Continues His Conversation with Turnarounds and Workouts for the Mid-Year Update, Part II
Scott Williams Continues His Conversation with Turnarounds and Workouts for the Mid-Year Update, Part II
In the July edition of Turnarounds and Workouts, a newsletter for corporate restructuring professionals, Julie Schaeffer continued her discussion with five bankruptcy experts including Birmingham partner and bankruptcy attorney Scott Williams. Schaeffer asks these experts what significant events are shaping restructuring activity and what sectors are dominating.
Williams notes that healthcare has been dominant sector. “Healthcare is a very complicated and ever-changing area that requires constant attention in order to be relevant and able to give meaningful advice to clients,” he said.
In addition, Williams believes the Merit Management case will have a significant impact on the restructuring industry. “The case will impact how prepetition payments are viewed and ultimately helps level the playing field amongst creditors. Since the court indicated that “safe harbor” transfers will be scrutinized on a case-by-case basis there may not be immediate results that are easily observable, but that doesn’t mean that insolvency professionals’ advice to their clients will not be substantially modified.”