With more than three decades of experience with modern bankruptcy law, restructuring professionals have witnessed the power of the Chapter 11 “Sword of Damocles” to motivate creditors, interest holders, and other parties to negotiate a consensual out-of-court restructuring. Although less well-developed in practice, Chapter 9 provides a similarly powerful restructuring model as discussed in this by-line from Michael Goldstein. Goldstein joined Goodwin in 2014 and serves as co-chair of the firm’s Financial Restructuring practice. Read the article in the Journal of Corporate Renewal here.