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Dec. 1, 2020
Bankruptcies likely to rise in 2021, attorneys say
South Carolina Lawyers Weekly writes that while there was a downturn in bankruptcy filings from 2019 to 2020, the anticipated increase in bankruptcies in 2021 is now in view. Columbia partner and bankruptcy attorney Jody Bedenbaugh said "...the question everyone has is, exactly when?”
Bedenbaugh gives the example of a North Carolina hospital he represented as it filed for Chapter 11 in March, prior to the state's shutdown. The hospital remained in business, as is the intention of Chapter 11, by finding a buyer and a new operator. Bedenbaugh said that due to COVID-19 he expects many hospitals will consolidate their operations going into 2021.
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