Saturday June 26, 2010
‘Reasonably high’ chance BP files for bankruptcy
Derek Thompson
Grist
There is a reasonably high chance that BP could file for Chapter 11 bankruptcy in the next few years, or even months, and the result would be an "absolute horror" for the government, according to a bankruptcy expert.
Peter S. Kaufman, the President of investment bank Gordian Group and head of the firm's Restructuring and Distressed M&A practice, told me that if he had BP's ear, "I'd advise them to explore the option of bankruptcy."
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