Carlyle's Bet On Telecom In Hawaii Ends Badly

"…Kirkland & Ellis LLP, beefed up its restructuring group over the weekend by rehiring James Sprayregen, who previously spent 16 years at the firm. In 2006, he decamped to Goldman Sachs Group Inc. to work as an investment banker.

'I feel like this next wave of corporate bankruptcies is just starting,' said Mr. Sprayregen, who will co-chair the law firm's bankruptcy group."

This article appeared in its entirety in the December 2, 2008 edition of The Wall Street Journal.