The trustee in that case was none other than U.S. D= istrict Judge Arthur J. Gonzalez--the man hearing the Enron bankruptcy. But= the two sides have met on cases with no sign of ill will since.=20 Standing side by side with the attorneys in the Enron bankruptcy are the in= vestment bankers. While not nearly so numerous as the lawyers, they tend to= make more money. Indeed, restructuring work is fetching larger fees than e= ver because of the difficulty of valuing and selling bankrupt assets. Since= many bigger investment banks dropped out of the bankruptcy business when t= he economy picked up in the early 1990s, it is now dominated by boutiques s= uch as Blackstone, Lazard, and CIBC World Markets.=20 The auction of Enron's trading unit has been largely handled by Blackstone.= Boutique shop Batchelder & Partners Inc., meanwhile, has poured over the b= ooks in search of overlooked assets.
The trustee in that case was U.S. District Judge Arthur J. Gonzalez, who is also overseeing the Enron bankruptcy. The parties involved have continued to interact on other cases without any apparent conflict. Alongside the attorneys in the Enron bankruptcy are the investment bankers, who, though fewer in number, often earn higher compensation. Restructuring work is commanding larger fees than ever due to the challenges of valuing and selling bankrupt assets. Since many major investment banks exited the bankruptcy business during the economic upturn of the early 1990s, the field is now dominated by boutique firms such as Blackstone, Lazard, and CIBC World Markets. Blackstone has primarily managed the auction of Enron’s trading unit, while Batchelder & Partners Inc. has been scrutinizing the company’s records for overlooked assets.
The trustee in the case was U.S. District Judge Arthur J. Gonzalez, who was also overseeing the Enron bankruptcy. The two parties have previously collaborated on cases without any signs of conflict. Alongside the attorneys involved in the Enron bankruptcy are investment bankers, who, while fewer in number, typically earn higher fees. The restructuring work currently commands substantial fees due to the challenges associated with valuing and selling bankrupt assets. Since many large investment banks exited the bankruptcy field in the early 1990s as the economy improved, smaller firms like Blackstone, Lazard, and CIBC World Markets have gained prominence in this area. Blackstone has primarily managed the auction of Enron's trading division, while Batchelder & Partners Inc. has actively sought overlooked assets.
The trustee was U.S. District Judge Arthur J. Gonzalez, who was also presiding over the Enron bankruptcy. The two sides have worked together on cases before without any indication of conflict. Among the lawyers in the Enron bankruptcy are investment bankers, who are fewer in number but generally pay more. The restructuring work is now being charged high fees because of the difficulty of valuing and selling bankrupt assets. Since most of the big investment banks left the bankruptcy business in the early 1990s as the economy recovered, smaller players such as Blackstone, Lazard and CIBC World Markets have become prominent in the sector. Blackstone has been the main auctioneer of Enron's trading unit, while Batchelder & Partners Inc. has been pursuing undervalued assets.
The trustee in the case was U.S. District Judge Arthur J. Gonzalez, who was also presiding over the Enron bankruptcy. The two have worked together on cases before and there is no indication of any conflict. Investment bankers, who are fewer in number but often command higher fees, are also among the attorneys in the Enron bankruptcy. The restructuring work is currently very expensive because of the difficulties in valuing and disposing of bankrupt assets. As the economy recovered in the early 1990s, many of the big investment banks left the bankruptcy business, and smaller firms such as Blackstone, Lazard, and CIBC World Markets have become more prominent in this field. Blackstone has mainly handled the sale of Enron's trading business, while Batchelder & Partners Inc. has been aggressively pursuing assets that have been ignored.