In this first part of his article, David sets the parameters for understanding U.S. bankruptcy concepts…
According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62 percent from the previous year. Commercial Chapter 11 filings totaled 244 in July 2021, down from the July 2020 total of 644.
Lender forbearance, continued low interest rates and massive financial intervention by the U.S. and economies worldwide have allowed financially distressed companies to survive during the pandemic. As relief programs recede, however, we will likely see an increase in Chapter 11 filings.
Originally published in ICTF Magazine, December 2021.
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