Role of Advisors in Bankruptcy Process

Hi All 

As this has become increasingly in vogue throughout the last 18 months, I would love for the RX experts in this forum to elucide the role of various players in the Chapter 11/7 process. Specifically, what are the different roles and purposes for RX Bankers (PJT/Evercore/HLHZ etc.), vs. Financial Advisors (Alvarez and Marsal/Alix Partners), and RX lawyers, and any other counterparties (besides the creditors and debtors obv.) that are involved in the process. Particularly i'm not clear what the diff between a PJT and A&M's role is in the process for example.





 
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