Distressed / special situation - animosity-filled or tight-knit community?

Hi guys:

For those of you in distressed / special situation, can you shed some light on how the community is like please? I have heard that it's a very tight-knit community where you are always running into the same peopole. At the same time, it seems that you are often running against each other (at opposite end of the negotiation table) - so how do people actually relate to each other in this industry? Do people always run into each other but secretly (or not secretly) have a lot of tension against each other/each other's careers?

Thanks!

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