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“Bankruptcy is a safety valve for the mistakes that get made in business,” explains Jenner & Block Bankruptcy Partner Richard Levin, an author of the 1978 US Bankruptcy Code and recipient of the 2015 Distinguished Service Award from the American College of Bankruptcy. In this video, he talks about the importance of achieving satisfactory returns, of “seeing around corners” in making distress investments where the bankruptcy laws will apply as well as why the best results for investors in distressed debt are always the negotiated results.