Thomas Salerno Quoted on the Next Wave of Bankruptcies in The Economist
Partner Thomas Salerno provided insight into the challenges businesses face as a result of the COVID-19 pandemic and the rise of bankruptcy filings in a recent article, "Chapter 11’s new chapter: America Inc. prepares for a wave of bankruptcies," in The Economist.
Thomas commented on the increase of investments in distressed-debt funds, aimed at assisting companies that are otherwise healthy, but struggling through the pandemic. He notes that many hedge funds and other lenders are opting for debt-for-equity exchanges in order to be in a better position once the economy recovers.
Clients turn to Thomas 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. He also serves on Stinson's Coronavirus Task Force, where he advises on bankruptcy and restructuring matters related to COVID-19.