As if there are not enough indicators of what the current state or our economy is, a recent report from the National Law Journal indicates that bankruptcy filings are expected to proportionally continue to rise through 2010.
Unfortunantely, this isn't just happening to big companies, like when Lehman Brothers filed the biggest bankruptcy of all time in 2008, but the report from the National Law Journal states that there is an expected significant increase in bankrupties for small businesses.
According to the report, 'before the credit crunch, capital from private equity funds and hedge funds and liberal loan terms helped companies settle financial difficulties outside of the courtroom with help from their law firms, but the present reality is that some companies just aren't going to be able to negotiate around bankruptcy the way they might have in the past.'
DLG Luce is a civil litigation law firm, with a thriving business law related practice. If you or your company are considering bankruptcy, or have questions about the bankruptcy process, contact us today to schedule a consultation with a DLG Luce business lawyer.