Chron: More than 240 U.S. Energy Bankruptcies Forecast by 2021
If the forecast by Norwegian energy research firm Rystad Energy is true, the number of energy bankruptcies from the coronavirus-driven oil crash will eclipse that of the last bust.
Three Energy Companies, Seven Firms: The Latest on SDTX’s Bankruptcy Docket
The Southern District of Texas has been a hub for corporate bankruptcies for some time, but even more so now as energy companies continue to be crippled by the one-two punch of the coronavirus outbreak and oil price war. Natalie Posgate explains the circumstances behind three new energy bankruptcies in Houston and identifies their lawyers.
Covid-19: A Bankruptcy Pandemic
The country is about to witness an unprecedented number of corporate bankruptcy filings. Companies that were otherwise healthy 90 days ago or at least had a fighting chance of avoiding a trip through the bowels of bankruptcy are now faced with the grim reality of a Chapter 11 filing. Gary Kennedy, who guided American Airlines through one of the most successful corporate bankruptcies in history, provides guidance for companies facing restructuring.
DBJ: J.C. Penney Plans to Create a REIT as Part of Bankruptcy
The stores in the real estate investment trust would be leased to a new operating company called "New JCP", according to court documents.
‘There is a Tsunami Coming’
More Texas businesses are filing for bankruptcy this year than during the Great Recession or anytime in the past two decades, and legal experts say the wave of insolvencies and restructurings is still far from breaking or hitting their peak. Houston has emerged as the preferred venue for large, complex restructurings for companies such as J.C. Penney and Neiman Marcus, though Dallas has a new bankruptcy judge on deck. The Texas Lawbook examines the trends and provides analysis from the top bankruptcy experts.
J.C. Penney Files For Chapter 11
Ending weeks, even months, of speculation, Texas-based retailer J.C. Penney filed for Chapter 11 bankruptcy protection late Friday in the Southern District of Texas. Natalie Posgate reports.
GC Brandy Treadway Leads J.C. Penney into Chapter 11
On Page 15 of J.C. Penney Company’s bankruptcy filing Friday late afternoon, there is the signature of the corporation’s general counsel and corporate secretary, Brandy Treadway. “Attached hereto is a true, complete, and correct copy of the resolutions of the Board of Directors of the Company.” Here is a profile of J.C. Penney's GC, who will play a critical role in the retailer's restructuring.
Colorado E&P Company Files for Chapter 11 in Houston
Colorado-based Ultra Petroleum is one of the latest energy companies to file for bankruptcy amid the COVID-19 and oil pricing crises. The restructuring is another example of Kirkland and Jackson Walker teaming up. Natalie Posgate has the details.