Partner Thomas J. Salerno Featured in Financier Worldwide on Bankruptcy Challenges Amid COVID-19
"Debtors in this volatile environment face a number of immediate considerations, and then longer term issues," Tom said. "It is important to keep in mind that the true impact of the financial crisis repercussions have not yet hit, and likely will not until fourth quarter of 2020 or first quarter of 2021. On the immediate considerations, key debtor considerations include cash preservation and access to governmental resources for short term, bridge financing needs."
Tom went on to discuss what steps debtors can take to reduce the risk of breaching loan or bond conditions, and the legal considerations debtors should keep in mind when focusing on liability management.
Clients turn to Tom for his national and international experience helping private and publicly-traded companies in a broad range of industries continue operations as they negotiate restructuring plans. He has advised lenders, distressed companies, committees and asset acquirers in bankruptcies and out-of-court settlements. A member of Stinson's Coronavirus Task Force, Tom advises clients firmwide on bankruptcy and restructuring matters during the pandemic.