Bankruptcy Trends

A Windstar cruise with “massive white sails, polished teak decks, modern luxury from staterooms to spa,” all at a discounted price?

Just days after the Justice Department filed an appeal of a ruling declaring the federal ban on gay marriage unconstitutional, lawyers for a same-sex couple at the center of a bankruptcy dispute upped the ante by asking the Ninth U.S. Circuit Court of Appeals to take the case.

The days of crash-and-burn bankruptcies may be flaming out.

An AlixPartners LLP survey released Wednesday found that most restructuring professionals expect that more than 50% of the large companies filing for Chapter 11 in the next 12 months will have at least a semblance of a turnaround plan in place when they enter bankruptcy.

And nearly all those surveyed, 97%, said those so-called prearranged and prepackaged filings have become a permanent part of the bankruptcy landscape.