By Collin Eaton of the Houston Chronicle
(Feb. 3) – More than two dozen Texas bankruptcy attorneys polled by Houston consultancy HSSK predict a 30 percent increase in bankruptcy filings if oil prices remain low.
The study projects that the total number of bankruptcies and restructurings could reach 3,468 this year, which would be 800 more than last year. That number would still be a quarter lower than the financial crisis in 2009.
Businesses in the Eagle Ford Shale and the Permian Basin would be hit the hardest, according to the HSSK study. Firms facing the prospect of bankruptcy or restructuring are tied to an estimated $84 billion in assets in Texas, the study says.
Read the full story in the Houston Chronicle’s Fuel Fix blog.
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