As the economy rattles toward a recession and defaults are forecast to skyrocket, investors and company executives are seeking advice on how best to prepare for what could be a prolonged downturn. Moody’s Investors Service and Fitch Ratings expect defaults to more than double in the next year as the coronavirus pandemic weighs on businesses, with supply chains interrupted and retail operations closed, pushing companies to fire workers or put them on leave. Lawyers at Goodwin were asked by investors to run ‘Bankruptcy 101’ sessions, about distressed investing and bankruptcy, according to Howard Steel, a partner in the Financial Restructuring practice at the firm. Read the Reuters article here.
In The Press April 13, 2020