“So far in 2020, the pace of corporate bankruptcy filings in the U.S. has already surpassed every year since 2009, the aftermath of the global financial crisis, Bloomberg data show.” – by Eliza Ronalds-Hannon, Katherine Doherty, and Davide Scigliuzzo
Bankruptcy
Spain Throws Lifeline to Companies Battling to Survive Pandemic (Bloomberg)
“Spain scrapped the threat of forced liquidation for companies that run up major losses this year as part of a series of changes announced by the government to stave off insolvencies amid the economic turmoil caused by the coronavirus.” – by Irene Garcia Perez
Athens court hears Folli Follie request for protection from creditors (Ekathimerini)
The Athens Court of First Instance on Thursday heard a request by troubled jewelry firm Folli Follie for protection from its creditors under Article 106a of Greece’s Bankruptcy Code.
Over 3000 Turkish companies apply for bankruptcy protection (Ahval)
The number of Turkey companies who applied for bankruptcy protection due to market volatility amid the country’s financial crisis has exceeded 3000…
How Lehman was carved up, and hedge funds won big
Ten years on, more than US$150bn has been paid to creditors from bankruptcy proceedings. Many investors have done very well.