Canadian law firms are expanding their corporate restructuring partners to prepare for a wave of insolvencies as COVID-19 relief measures dry up and lenders start to lose patience with struggling businesses, as reported by the Globe:
“Firms are acutely aware of the need to have a strong team entering this next phase of COVID.”
This recent Bloomberg special report on bankruptcy examines this insolvency cycle.
In 2020, bankruptcy has gone from a last resort for struggling companies to “the new normal.” Blaming it on the coronavirus alone is too simple. Lisa Abramowicz hosts an in-depth look at the sudden surge in corporate defaults, how it’s affecting investors, and why policymakers are finding it challenging to contain the damage. Here is a direct video link.
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