Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization Act of 2019), a government bailout in excess of $2.3 trillion (through the CARES Act), many life-long retailers on the brink of disappearing (and the oldest–Lord & Taylor–is disappearing), the shuttering of over 100,000 restaurants and small businesses, an ailing travel industry that claimed the largest bankruptcy of the year (Hertz), and record breaking oil & gas bankruptcies.
In case you missed a Corporate Restructuring Review (CRR) Article covering some of the issues this year, CRR would like to provide you with a summary of everything that was discussed in 2020. Have a safe and happy New Year!
TABLE OF CONTENTS
Chapter 11 Plans
Oil & Gas