This article appeared in The Bankruptcy Strategist, featuring the strategies and techniques devised by the country’s top bankruptcy lawyers and reports on innovative procedural techniques, legislative developments and recent judicial rulings — plus what they mean for you and your clients.
In January 2023 alone, three well-known U.S. retailers filed for Chapter 11 or announced they were preparing to file, citing the slowing economy, rising interest rates, supply chain issues and increased competition, among other issues. The recent, big-name Chapter 11 filings have brought to the light the importance of insurance solutions for companies in financial distress, as companies in this situation face oftentimes new and uncharted issues such as deal facilitation, collateral options to support loss sensitive programs, close out transactions, personal asset protection, D&O insurance, surety & performance bonds and workers compensation, among others.
