Irve Goldman Quoted on Bankruptcy Filings in CT During the Pandemic
Irve Goldman, chair of Pullman & Comley's Bankruptcy, Creditors' Rights and Financial Restructuring practice, was quoted in an article highlighting the fact that there have been fewer bankruptcy filings in Connecticut during the COVID-19 pandemic. According to the article, that trend is not surprising, given that lenders may not be pushing borrowers due to the current circumstances, but the situation may change in the coming months depending in large part on the ability of borrowers and lenders to restructure loans.
Irve noted, however, that an economic rebound could make out-of-court agreements more appealing for many creditors. “If creditors start to see an end in sight," he says, "you would expect them to continue working with the situation as opposed to forcing a legal resolution.”
Read the full article here.