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IntraLinks says bankruptcies, restructuring on the rise - Trade Only Today

IntraLinks says bankruptcies, restructuring on the rise

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IntraLinks, a provider of critical information exchange solutions, saw overall bankruptcy and restructuring activity increase 329 percent in the first half of 2009 compared to the previous year.

"Companies in distress and their advisors face huge pressures to move forward quickly and accurately considering the current trends in restructuring," said Matt Porzio, vice president of product marketing for IntraLinks, in a statement.

"To manage these complex processes, which often involve huge volumes of documents and multiple recipients, a growing number of advisors look to IntraLinks for more than just an online due diligence solution - engaging us much earlier in the process than they did a year ago," he added.

The highest levels of bankruptcy and restructuring activity in the first half of 2008 and 2009 came from four industries: financial services, manufacturing and industrials, real estate and consumer retail.

In the first half of 2009, the global distribution of these transactions were split between 60 percent in the Americas and 40 percent in Europe, the Middle East, Africa  and in the Asia-Pacific region.

IntraLinks was used in more than 70 percent of the top bankruptcy and restructuring situations in the first half of 2009, according to the company.

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