Restructuring lawyers scramble as coronavirus tanks economy - Business Insider

The extent of the damage to the global economy will hinge on how long it takes for the coronavirus to subside. One banker commented that the US economy isn't well-equipped for people to work from home and not go outside for months on end.

But attorneys hedged their forecasting about how many large Chapter 11 bankruptcy filings we may see from the turmoil. Much is still unknown, they said, like exactly what the federal bailout package will include and what actions companies will take to scale down operations. The law firms likely to see some of the biggest restructuring matters from clients include Jones Day, Kirkland & Ellis, Paul Weiss, Weil Gotshal, Willkie Farr, Akin Gump, Quinn Emanuel, and Milbank.

"Many of those cases got hotter," said Bennett, who did not provide specific names. "There is just no question that that happened." But when bankruptcy filings do start to occur, he said, the expectation is that oil and gas companies will be on the list of companies to file. Kirpalani said that it's also affecting the municipal markets, an area that is seeing an outflow of cash from mutual funds.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

The coronavirus pandemic may be weakening US retail - Business Insider - Business InsiderWith states and cities closing nonessential stores in response to the coronavirus, retailers may lose the ability to make in-store sales altogether. Ya think lortyvon L’augmentation des taxes est là
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Coronavirus: Fox is pushing Trump to prioritize the economy over health - Business InsiderFox host Steve Hilton, a Donald Trump supporter and self-described 'positive populist,' argued that the economic impacts of the social distancing measures being enforced across the US will do more harm to Americans than the coronavirus itself.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Instagram Models Say Business Is Taking a Hit From CoronavirusInstagram model business taking hits from coronavirus pandemic. Cry me a river Oh no, now they might need to get real jobs. Oh no. Poor thing... 😭
Fuente: TMZ - 🏆 379. / 59 Leer más »