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ARTICLE · 14 OCTOBER 2020

What We're Reading This Week [October 5, 2020]

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Research from the Brookings Institute finds that the COVID-19 pandemic's impact on firm profits and revenues thus far is comparable to the worst quarter of the 2008-2009 financial

United StatesInsolvency/Bankruptcy/Re-Structuring
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Research from the Brookings Institute finds that the COVID-19 pandemic's impact on firm profits and revenues thus far is comparable to the worst quarter of the 2008-2009 financial crisis. The researchers further project that bankruptcy filings will increase by as much as 140 percent this year compared with last year. [Brookings; Sept. 23, 2020]

Bloomberg reports that Malaysia Airlines Bhd. has been in contact with lessors, creditors, and key suppliers in order to effectuate an urgent financial restructuring as the company approaches a potential liquidity crisis in November of 2020. [Bloomberg; Oct. 2, 2020]

Reporting from the Wall Street Journal indicates that satellite communications company Ligado Networks LLC is seeking approximately $4 billion in additional debt financing in order to avoid a chapter 11 bankruptcy filing. Ligado currently has approximately $2 billion in loans coming due in December of 2020. [WSJ; Oct. 1, 2020]

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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