Overview
Action Items
- 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: 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.
COVID-19 Resources
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
