As more Texas businesses file for bankruptcy amid the pandemic, Jackson Walker partner Matt Cavenaugh spoke with The Texas Lawbook about the plunging number of prepackaged bankruptcies and more “free fall” bankruptcies.
“In 2015 and 2016, there was a lot of capital waiting to invest, which was important for exiting bankruptcy. Right now, there’s not a lot of access to capital,” he said. “There’s been so much money pumped into the system by the feds. There’s no way to know the impact.”
To read more, view “‘There is a Tsunami Coming’” (subscription required). Matt’s interview was also featured in Houston Chronicle‘s “Texas bankruptcies are up, and Houston is the epicenter” (subscription may be required) and in the OilPrice.com article “Oil Firms Among Worst Hit As Wave Of Bankruptcies Hits Texas.”
A seasoned actor and former judicial law clerk, Matthew D. Cavenaugh understands the importance of communicating complex legal arguments with clarity and conviction – both in and out of court. In his practice, Matt regularly represents secured and unsecured creditors, debtors, Chapter 11 and Chapter 7 trustees, third-party purchasers, and other interest holders in a wide variety of insolvency and restructuring matters. He also has experience representing third-party purchasers of assets through Chapter 11 reorganizations, including oil & gas and intellectual property assets.
Please note: This article and any resources presented on the JW Coronavirus Insights & Resources site are for informational purposes only, do not constitute legal or medical advice, and are not a substitute for legal advice from qualified counsel. The laws of other states and nations may be entirely different from what is described. Your use of these materials does not create an attorney-client relationship between you and Jackson Walker. The facts and results of each case will vary, and no particular result can be guaranteed.