As the world reacts to the COVID-19 global health crisis, businesses in all industries will eventually feel the impact of the pandemic’s economic and financial disruption. What steps can borrowers, lenders, customers and...more
An increasing number of businesses — even those that have traditionally been financially and operationally sound — are now experiencing unanticipated revenue losses as a result of the coronavirus pandemic. Companies may find...more
3/20/2020
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Free and Clear Transactions ,
Furloughs ,
Liquidity ,
Personal Liability ,
Reorganizations ,
Sale of Assets ,
Vendors ,
WARN Act
A key tenet of reorganization under Chapter 11 is that if the debtor’s plan impairs creditors, at least some of those creditors must agree to the plan. More specifically, “if a class of claims is impaired under the plan, at...more