Client Alert: Could Filing For Bankruptcy Help A Business Slammed By COVID-19?
- Review our In-Depth: COVID-19 – Bankruptcy Considerations.
Recent media stories have predicted a wave of bankruptcy filings by businesses that have seen dramatic losses of revenue due to COVID-19 (coronavirus). Many such businesses will likely default on loans and leases, and will face eviction and foreclosure actions. But will a bankruptcy filing really provide any relief to a business that has fallen victim to the enormous disruption caused by the virus crisis?
COVID-19 – Bankruptcy Considerations
Click here to review each consideration in more detail: https://www.bfkn.com/in-depth-covid-19-bankruptcy-considerations
- Short Term – Bankruptcy Will Provide Breathing Room
- Long Term – This Situation Is Not Well-Suited To Bankruptcy
- Bankruptcy, Or The Threat Of It, Does Provide Leverage For Borrowers & Tenants
We Can Help You
We have been on the forefront of dealing with COVID-19 for our clients. Please contact us if you would like to discuss any of these issues or if we can otherwise be of assistance.
We strongly recommend you evaluate the following pandemic-related business and legal considerations that we have been discussing with our clients in the following Client Alerts:
- COVID-19 – New Employer Obligations & Considerations
- Top 10 Considerations For Pandemic Responsiveness
- COVID-19 Insurance Coverage Considerations
- 10 Steps For Following Regulators’ COVID-19 Guidance
- Webinar: Is Your Bank's Pandemic Contingency Plan Ready For Implementation?
- Financial Institutions Urged To Work With Borrowers Impacted By COVID-19