Virtual Data Rooms Help Corporations Manage Bankruptcy Turmoil
San Jose, CA, February 2, 2009 – The February issue of Financial Worldwide Magazine shines the spotlight on the growing use of virtual data rooms (VDRs) in the increase of bankruptcies and organizational restructuring hitting corporate America. The article, “Using VDRs to manage Bankruptcy Scenarios,” highlights staggering bankruptcy data from 2008 as well as the rise in use of VDRs to manage make the bankruptcy and/or restructuring process easier and more secure. According to BankruptcyData.com, filings among publicly traded companies increased by 74 percent in 2008, compared with 2007, and the total assets of companies filing for bankruptcy rose dramatically from $70.5 billion in 2007 to a record $1.16 trillion in 2008. A complex and deadline drive process, VDRs simplify the bankruptcy and restructuring process by making hundred and sometimes thousands of data sensitive documents available to geographically diverse team members online. Included in the article is insight from users and VDR leaders, including John Badger, Vice President of Marketing and Product Management at Pandesa.
Download PDF: Using VDRs To Manage Bankruptcy Scenarios
