In early June, we looked at the impact of COVID-19 and collapsed oil prices on Texas businesses. At that time, forecasts indicated continued losses in the energy, health care, legal and other sectors, more layoffs and an uptick in commercial litigation inside and outside of the bankruptcy courts.
As we close out the third quarter and the economy cautiously reopens, many of these predictions have played out. Businesses continue to struggle with an uncertain future and the need to maximize assets. Bankruptcies and lawsuits are on the rise, while our courts struggle to fully reopen and provide a timely path to resolution. However, there also are signs of stabilization and recovery, and in some instances, losses are fewer than anticipated. Whether and how our precarious recovery continues remains to be seen. In this climate, more than ever, litigation finance is a tool that can ease the financial burdens faced by Texas companies.
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