Pending Bankruptcy Filing Outlook: By the Numbers.1
The New York Times recently reported that 2020 will likely set a national record for so-called mega bankruptcies – identified as companies with $1 billion or more in debt. This tidal wave of filings is expected to hit in the next 60 to 90 days. This will certainly place an additional burden on our already taxed legal system, creating an even greater urgency on the part of these companies, and their legal support, to be able to act quickly.
$10.5
US company’s debt as of Q1, in the trillions.
6800+
Bankruptcy filings from last year, expected to be exceeded this year.
192
Expected cases filed with $100 million+ in debt.
66
Expected cases filed with $1 billion+ in debt.
We have the Talent and Resources to Help You Deepen Your Bench – Quickly, Efficiently and Cost-Effectively.
Engage our team to quickly and efficiently build your bankruptcy practice in order to meet the pending demand. We can help you build your team, assess projects, review documents, abstract critical data, and provide client friendly summarizations that ensure the best defensible outcomes and the minimization of creditor committee objections for your clients.
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