A lot of top Wall Street banks wanted to get into the restructuring business. Morgan Stanley made a move, hiring a big name from Lazard. Goldman Sachs added Jamie Sprayregen, a former Kirkland & Ellis bankruptcy attorney. Harvey Miller was part of the restructuring group at Greenhill & Co., though he has since returned to Weil Gotshal. Even Lehman Brothers sought a piece of the action, until it fell into bankruptcy. There's a lot of money to be made as an adviser and as a lender, notes IDD. Of course, the issue this time around is that there is not a lot of DIP and other financing available. Still, it is a rare growth market. The advantage may go to the boutiques and specialists.

For more:
- here's the IDD article

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