DISTRESSED DAILY: Market Turmoil Upends Bankruptcy Cases

The economic and market fallout of falling oil prices and the coronavirus in recent weeks has brought distress to bankrupt companies, too.

• In addition to the pool of distressed debt quadrupling to nearly $1 trillion, companies that are already in Chapter 11 are grappling with lost funding, asset-sale deals collapsing and going-out-of business sales being shut down by widespread stay-at-home orders.
• EP Energy Corp. was left this week to search for a new reorganization plan after a bankruptcy judge nullified a previous deal that would have slashed billions of dollars of debt from the shale driller’s balance sheet.
  • Fellow oil ...