Thursday, July 22, 2021
Even prior to the global impact of COVID-19, commercial bankruptcy filings were already on the rise. As stay-at-home orders caused many businesses to close or significantly curtail operations in 2020, financial struggles in the commercial sector mounted. Government assistance through the passage of different stimulus programs such as the Coronavirus Aid, Relief, and Economic Security (CARES) Act (2020) and Coronavirus Response and Consolidated Appropriations Act (2021) has temporarily helped companies stave off difficult financial decisions.In addition, lenders may have been more willing to provide modifications to loan agreements to provide for some payment relief in the near term. However, as stimulus funds dry…
Read the full article at: https://www.natlawreview.com/article/key-considerations-officers-and-directors-distressed-companies
