PRINT THIS PAGE European Distressed Debt Market Outlook 200806/02/2008. Source: Debtwire, Cadwalader, Wickersham & Taft, Rothschild. 
Over-leverage was cited by respondents to the European Distressed Debt Market Outlook 2008 survey as the foremost factor expected to effect restructurings. It was mentioned by just under half of respondents, according to the survey published by Debtwire in conjunction with Cadwalader, Wickersham & Taft and Rothschild, while an economic downturn and management failure were also highlighted as likely significant causes of restructurings. An economic downturn is expected to be the catalyst for the next significant wave of corporate failures, cited by two thirds of respondents. Respondents highlighted slower GDP growth, recessions and increased competition amongst businesses as characterising this downturn.
Management failure was mentioned by half of respondents, a factor or trigger that was not mentioned at all by respondents in last year’s survey.
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Debtwire, part of the Mergermarket Group, publishes news and information for financial professionals in the distressed debt and leveraged finance markets. For more information go to www.debtwire.com.
Law firm Cadwalader, Wickersham & Taft was established in 1792. The firm operates through offices in New York, London, Charlotte, Washington, D.C. and Beijing. Go to www.cadwalader.com for more information.
Independent investment banking firm Rothschild has been established some 200 years. The firm has 32 offices worldwide employing over 2,000 people. For more information go to www.rothschild.com.
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