Shearman & Sterling bankruptcy partner Michael Torkin, finance partner Michael Baker and mergers & acquisitions partner Scott Petepiece were featured in a story in the Toronto Globe and Mail, titled “High-yield bond costs soar as defaults rise.” The story was based on a presentation by the Shearman & Sterling partners at a University of Toronto Faculty of Law program. According to the story, banks’ inability to lend has shifted the focus to the acquisition of quality assets made available by distressed sellers. Said Torkin, “These assets might not even be in need of operational restructuring.”