The focus is on corporate bankruptcy and restructuring and the legal processes related to distressed businesses, which can either be reorganized or go into liquidation. Also, especially in the current economic environment, the chapter includes lawyers who advise on acquisition opportunities that arise out of distressed businesses. Lawyers in this chapter assist clients such as corporate debtors, investors and asset purchasers, secured and unsecured creditors and creditors' committees, bondholders, insurers, directors of distressed companies and any other interested parties in corporate restructurings and bankruptcy proceedings. In addition to transactional work, bankruptcy also covers any related litigation, such as disputes between such parties in connection with distressed companies and Chapter 11 and Chapter 7 processes.