Derek Thompson

Derek Thompson is a staff editor at Atlantic Business, where he writes about economics, business and technology. Derek has also written for BusinessWeek and Slate.

BP: Beaten Pinata?

‘Reasonably high’ chance BP files for bankruptcy

Bankruptcy expert Peter S. KaufmanPhoto: Gordian GroupThere is a reasonably high chance that BP could file for Chapter 11 bankruptcy in the next few years, or even months, and the result would be an “absolute horror” for the government, according to a bankruptcy expert. Peter S. Kaufman, the President of investment bank Gordian Group and head of the firm’s Restructuring and Distressed M&A practice, told me that if he had BP’s ear, “I’d advise them to explore the option of bankruptcy.” If he had the government’s ear, he’d tell them to stop berating the company to the point where BP …

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