Hi!

Die Erwartungen von PWC hinsichtlich der Insolvenzen für das Jahr 2002.

~ THE PHOENIX FORECAST: Bankruptcies and Restructurings 2002

Ausschnitte - Schlussfolgerungen:

Conclusions
<ul>Following are the highlights of PwC’s research on recent bankruptcy filings and implications for 2002 levels.

~ Even with the anticipated modest U.S. economic rebound in 2002 and a turnaround in corporate profits by the middle of 2002, PwC expects public company bankruptcy filings this year to decline only to 200 from the record level of 257 filings in 2001. However, 200 filings will still represent historically high levels.
~ Private company filings for Chapter 11 protection will increase to 10,800 filings, the highest since 1995. Unlike the record-setting levels of public company bankruptcy filings during the current downturn, the estimated number of 2002 private filings remains at least 31 percent lower than private filings between 1989 and 1993.
~ About 3,600 of the 11,000 private and public companies filing for bankruptcy in 2002 will secure court approval of their restructuring plans and implement these plans successfully.
~ Two factors may make for a less difficult period of restructuring today compared to the 1990 to 1992 period: (a) macroeconomic conditions supportive of business growth and (b) a more fundamentally sound banking financial system. However, there are risks that the current process of restructuring may be prolonged because banks and other credit institutions’ lending practices have become more restrictive, especially towards what may be viewed as financing or refinancing over-leveraged companies.
~ PwC has identified industries in which there is and will be a high concentration of bankruptcy filings: telecommunications, auto, steel, computer hardware industries, chemical, and retail industries.</ul>

Gruss
Cosa







<center>

<HR>

</center>