Tim Palmer, shareholder and head of the firm’s Bankruptcy Practice Group, spoke with the Pittsburgh Business Times for the article, "Business bankruptcies for 2021 in Pittsburgh region at lowest level in at least 20 years."
Timothy Palmer, head of the firmwide bankruptcy practice at Buchanan Ingersoll & Rooney PC, noted a “steady diet” of out-of-court restructurings.
“Because of the liquidity of the market, we’re able to do things out of court, which tends to be more efficient and companies don’t have to face the difficult decision of a bankruptcy filing,” Palmer said. “It’s continuing the trend we saw last year. The economy is strong, the businesses are still able to benefit from the various stimulus programs and PPP money. Many of them have that money squirreled away for a rainy day.”