Restructure butcher

It’s not every day that a well-known finance partner admits to engineering regulation to create work for himself. But that’s exactly what one prominent US partner did when discussing recent proposals to change the UK Insolvency Act (1986), announced last week.

The European High Yield Association is pushing for changes to give more control to bondholders, amazingly enough. One poor underemployed partner confessed to Tulkinghorn: “I suppose it could be seen as us trying to make a bit of work for ourselves.”