The Week In Bankruptcy: Travel Brakes Spur Ch. 11 Activity
Law360 (July 24, 2020, 7:27 PM EDT) -- Transportation entities that have been forced into bankruptcy due to the COVID-19 pandemic and the virtual elimination of discretionary travel made headlines last week as more Chapter 11 cases moved forward. Dealing with massive reductions in travel, many are offloading vehicles while seeking to restructure their businesses amid the chaotic environment.
Retailers also continued to deal with the fallout of the coronavirus, as well-known brands fell into insolvency and others worked through plans to reduce store footprints.
Bankrupt car rental giant Hertz Global reached a deal with its fleet financing lenders last Friday that will see the debtor sell more than...
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