Law360, New York ( March 29, 2013, 10:28 AM EDT) -- Restructuring professionals historically thrive in "doom and gloom" economic forecasts. This is not surprising based on the nature of the business and the traditionally inverse relationship between the economy and Chapter 11 filings. When the economy faltered, the restructuring professionals were at their busiest cleaning it up. That is why the last two years of the "Great Recession" have been counterintuitive to the bankruptcy professional business model. Economic growth remains slow or at least far below projections, yet bankruptcy filings have dropped beyond what a sluggish economy would typically dictate. This has left many restructuring professionals wondering whether the long, traditional Chapter 11 bankruptcy case is a relic of the past and if we have entered an era of liquidation, prepackaged short-term bankruptcies and § 363 sales followed by a dismissal of the pending chapter case....
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