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You are a Non-Bankruptcy Lawyer in an Epic Downturn: 10 Things You Should Know About Chapter 11

While we all hope otherwise, a deadly pandemic, a turf battle over oil and systemic changes in the retail marketplace seem to have us on the cusp of a historic downturn. A record-breaking stimulus effort has eased some of the immediate pain, but it will run out or simply be incapable of resurrecting consumer confidence in the collective activities and spending that drive our economy. More clients will need bankruptcy relief, and more of their clients and customers and borrowers will seek that relief. While state courts are virtually closed, bankruptcy courts in Kentucky are still operating, albeit with many hearings becoming telephonic. 

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