Pages from Bankruptcy Basics (May 14, 2020)

Many loan market participants are expecting a steep rise in borrower defaults and bankruptcy filings. What is the purpose of Chapter 11? How does it work? What unique challenges to the bankruptcy system can we expect from unprecedented disruption of the COVID-19 pandemic? Dennis Twomey, a partner in the Restructuring Group at Sidley, answered these questions and explained the basics of the bankruptcy process.

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