U.S. Bankruptcy Tracker: Debt Exchanges Mask Distress
- No large companies filed for U.S. bankruptcy in latest week
- Distressed exchanges are ‘Band-aid’ for commercial woes
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The number of large U.S. bankruptcy filings is being suppressed in part by debt exchanges that often amount to short-term financial bandages, according to Jordana Renert of law firm Lowenstein Sandler.
No large companies filed for bankruptcy in the U.S. last week, data compiled by Bloomberg show. That’s the second week-long drought this year, which is on pace to be the slowest since 2018 in terms of bankruptcy filings that include at least $50 million of liabilities.