News & Publications

Key points: Companies facing bankruptcy can still make smart moves Creditors should consider asserting liens before it's too late Legal fees may be covered for some unsecured creditors Oil prices took an historic nosedive Monday as Saudi Arabia and Russia announced plans that would flood a market already crippled by the coronavirus. How long this price war will continue is unclear but Brent and US crude have already lost half their value this year. Notably, [...]

Reporting and worried speculation about the coronavirus outbreak is widespread, and the potential disruption to global manufacturing and commerce may be profound.1 Suppliers, distributors, manufacturers and end-users whose businesses rely on vendors or other market participants affected by coronavirus may face significant business and legal risks, to say nothing of financial distress, insolvency or bankruptcy. Consequently, now may be a good time to review your supply chain business exposure and consider commercially viable alternatives. Coronavirus and [...]

Filing a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy. If a creditor wants to continue a lawsuit against a debtor outside of bankruptcy, repossess collateral, terminate a lease, set off debts, or pursue other collection efforts, it first must obtain stay relief from the bankruptcy court.  The "automatic stay" is a command to halt action, and creditors violate it at their own peril. But what about inaction?  [...]