Opportunities arise in debt as more companies face spectre of insolvency

The growth trend in the distressed debt sector noted at the end of last year has continued apace as the slowdown in the world economy has ground on.

Meir Valman, manager of the Israeli-based GEMS Recovery fund, says the market for distressed debt has been 'growing massively' for a while now, after drying up during the 1990s.

The general economic situation is good for distressed, he says, with firms still facing the spectre of default and, worse, insolvency.

Names such as Enron, WorldCom and K-Mart

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