Sandy Damage Could Spark Wave Of NJ Bankruptcies

Law360, New York (December 3, 2012, 4:28 PM EST) -- Lenders will likely cooperate with New Jersey businesses in distress following Superstorm Sandy, but the state's federal bankruptcy court could see a spike in filings if companies' insurance recoveries are less, or later, than they need, or if the hurricane eroded their margins beyond repair, experts said.

Bankruptcy attorneys said they've yet to see increased filings from Sandy and the $36.9 billion in damage that it left behind in New Jersey, but that could change in the coming months. The cost of rebuilding and operating could...
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