Business Bankruptcies Up in Q2, Trend Expected to Continue - Pittsburgh Business Times
Jim Newell, shareholder in the firm's Bankruptcy & Creditors' Rights practice and co-chair of the firm's Financial Institutions Practice, comments on an increase in bankruptcy filings by businesses in the Pittsburgh region in Pittsburgh Business Times' article "Business Bankruptcies Up in Q2, Trend Expected to Continue."
“Not only have I seen a pick up in the work, but I think it’s going to increase,” said James Newell, a co-chair of Buchanan Ingersoll & Rooney PC’s Financial Institutions practice who specializes in bankruptcy and corporate reorganizations. “I don’t know if the workouts or out-of-court transactions (alternatives to stave off filing for protection from creditors) will increase Chapter 11s (locally), but I suspect it will continue through year-end and somewhat beyond.”
“That has kept a lot of people in the eastern part of the state and lawyers in Pittsburgh with health care clients busy,” Newell said.