Tarlo Lyons, a City-based technology and communications law firm, is launching a specialist Corporate Recovery Group to rescue new economy companies that are running out of money.
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Tarlo Lyons partner Tim Couldrick said, "In addition to the high-profile dotcom failures that have attracted extensive press coverage, a significant number of companies established in the new economy are experiencing major issues with the availability of funding.
"An increase in the number of new economy business failures is inevitable."
The group will offer rescue and turnaround advice to banks, creditors and financial institutions, attempting to maximise recovery of debt from failing dotcoms.