In The News02.08.2021

Irve Goldman Quoted in Hartford Business Journal Article on Fewer CT Businesses Filing for Bankruptcy

Hartford Business Journal

Irve J. Goldman, a Bankruptcy, Creditors' Rights and Financial Restructuring attorney at Pullman & Comley, was quoted in the Hartford Business Journal on how fewer businesses have been filing for bankruptcy, despite the pandemic. With the impact COVID-19 has had on Connecticut's economy, it was expected that bankruptcy filings would be on the rise, when in fact, commercial bankruptcies fell nearly 30% in 2020 compared to 2019.

Irve sees the Small Business Reorganization Act, which Congress passed in 2019, as a game changer for troubled businesses. "It is curious that it hasn't been used as much as I think bankruptcy professionals would have thought,” he said. “I just don’t think it’s widely known that it’s available.” Although it's seen little use so far, he believes subchapter V bankruptcies will catch on in the years to come. “I think it’s the most far-reaching bankruptcy reform that the court has seen since the bankruptcy code was enacted in 1978, really." 

To read the full article, please visit the Hartford Business Journal website.


Jump to Page