Harvard Law School Bankruptcy Roundtable

The Bankruptcy Roundtable

Promoting the dissemination of academic and practitioner views of current bankruptcy issues

Liability Management 2026: For Better or Worse
by Editor
April 7, 2026
By Joshua A. Feltman, Emil A. Kleinhaus, Michael S. Benn, Benjamin S. Arfa, Michael H. Cassel, Stephanie A. Marshak, and Matthew C. Rowe (Wachtell, Lipton, Rosen & Katz) Much ink was spilled in 2025 (and before) arguing that liability management exercises are doomed to fail, with the Financial Times reporting that around 80% of companies default on their restructured debt… Read more: Liability Management 2026: For Better or Worse

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