Why the Expected COVID Restructuring and Bankruptcy Boom Fizzled—But May Soon Materialize
By Stephen Selbst and Steven B. Smith, Partners & Rachel Ginzburg, Associate, Herrick, Feinstein LLP
In late March 2020, as the potential extent of devastation brought on by the COVID-19 pandemic was becoming clear, a headline in The New York Times declared: “Scary Times for U.S. Companies Spell Boom for Restructuring Advisers.” There were more than 8,000 permanent brick-and-mortar store...
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Rachel Ginzburg is an associate in the Restructuring & Finance Litigation Department at Herrick, Feinstein LLP. Her practice focuses on all areas of bankruptcy and restructuring, including the representation of commercial debtors, secured and unsecured creditors, creditors’ committees, and other significant parties in interest in bankruptcy and insolvency proceedings.
Steven B. Smith is a partner in the Restructuring & Finance Litigation Department at Herrick, Feinstein LLP. He focuses his practice on complex corporate restructuring and bankruptcy litigation, including in-court Chapter 11 and Chapter 15 cases and out-of-court workouts. He has extensive experience representing distressed debt investors, bondholders, official and ad-hoc creditor committees, administrative and collateral agents, indenture trustees, stalking horse and other asset purchasers, trade and tort claimants, and other significant parties in interest in a variety of jurisdictions across the United States.
Stephen Selbst is a partner in, and co-chair of, the Restructuring & Finance Litigation Department at Herrick, Feinstein LLP. He has more than 30 years of experience representing debtors, creditors, official committees, distressed investors, and asset purchasers in bankruptcies and out-of-court restructurings. He advises clients from a wide range of industries, including financial services, telecommunications, government agencies, and real estate. A skilled commercial litigator, Selbst also has significant experience in district and state courts, where he regularly represents clients in separate litigation arising out of bankruptcy.