A General Motors bankruptcy would require so many restructuring specialists that some US lawyers have joked it will deplete the profession of experienced professionals.
Hundreds of bankruptcy lawyers from nearly every major law firm with a restructuring team have spent months preparing documents that would be needed in a GM filing, expected before 1 June this year.
It would be one of the largest and most complicated restructures of an US corporation, including Enron, the New York Times reports.
“Legal fees totalling hundreds of millions of dollars are likely during the course of the case, given the high-powered and high-fee lawyers involved,” it reports.
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