All InJanuary 5, 2009
Raymond M. Patella, a partner in Fox Rothschild's Financial Restructuring & Bankruptcy Practice, was featured in the article, "All In," by Martin C. Daks. The article appeared in the January 5, 2009, edition of NJ Biz.
The author discusses the slumping national economy and its likely effect on the Atlantic City area, and in particular, the tourism and gaming industries.
Said Patella, "In 12 years of practice, I've never seen anything like this kind of economic slow down.... Casinos in particular operate with a very high level of fixed costs, including debt and utility expenses that do not fall when customer activity drops off."