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The number of distressed M&A transactions doubled between 2007 and 2008 and will continue to increase, says Frank Aquila a partner in the M&A group at Sullivan & Cromwell LLP. In this edition of Inside the Deal, Aquila, says there is a "staggering amount" of high yield debt coming due in 2010 to 2015, and for corporations that can't refinance, a sale of assets or the company may be the only option to avoid bankruptcy.
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