For Companies on the Rocks, Tax Bill Doesn’t Help Much

Wall Street Journal

"The new tax law is a boon to most US businesses, but it will make life harder for one type of company: those that are struggling financially or at risk of filing for bankruptcy. Federal lawmakers killed a key tax benefit that troubled companies have long relied on to raise cash in a pinch. Coupled with a limit on interest deductions, which makes borrowing costlier, the changes will leave strapped firms with fewer options, according to bankruptcy lawyers and advisers."

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Related Contacts
Cathy Hershcopf Partner, New York