Bloomberg Law
Sept. 15, 2020, 1:00 PM

U.S. Bankruptcy Tracker: Kirkland Sees Next Surge in 2021

Josh Saul
Josh Saul
Bloomberg News

The next big wave of U.S. bankruptcy filings won’t happen until mid-2021, when companies that borrowed heavily to survive Covid-19 hit a wall, says bankruptcy attorney James Sprayregen of Kirkland & Ellis.

“You could think of it as a rat of debt working its way through the snake, and it takes a while for that to happen,” said Sprayregen, whose firm represented some of largest U.S. companies that went bankrupt during the pandemic. “A big wave has already happened and we have a semi-hiatus for maybe the rest of the year,” he said in a telephone interview Monday.

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