Healthcare facilities have faced an incredible amount of undue stress during the COVID-19 pandemic, creating a sea of challenges for all stakeholders. Michael Sandnes provides some important considerations and strategies for financially distressed healthcare organizations.
Structurally flawed businesses that survived 2020 are in greater danger of imploding in 2021, which could put further pressure on stakeholders in commercial real estate, Doug Greenspan, a managing director at A&G Real Estate Partners, said at a TMA conference.
eCapital Commercial Finance, a division of eCapital, provided a $1.5 million debtor-in-possession factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy.
According to Epiq, 2020 had the lowest number of bankruptcy filings in the U.S. since 1968, with a total of 529,068 filings across all chapters. However, Chapter 11 filings continued to grow year-over-year, rising 29% to 7,128 new filings in 2020 compared with 5,518 in 2019.
Vinson & Elkins announced that Paul E. Heath, an accomplished partner in the firm’s Restructuring and Reorganization practice group, has relocated from Dallas to Houston.
As a result of COVID-19, some businesses will make the difficult decision to wind down operations. As owners and lenders seek more efficient alternatives to bankruptcy, an assignment for the benefit of creditors can be a better option.
Tyler Layne and John Tishler of Waller Lansden Dortch & Davis dive into the True Health Chapter 11 bankruptcy case and the healthcare debtor-friendly trend seen in recent bankruptcy court decisions
Just because a company files for bankruptcy doesn’t mean they can’t be a source of new business. Scott Greer, Matthew Warren and Jacob Jumbeck of King & Spalding explain what lenders should focus on when determining how to proceed with such debtors, using McDermott International’s recent Chapter 11 filing as an example.
Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.