Plenty of trucking companies are going bankrupt. We know that. But what if a change in the bankruptcy law last year could keep a lot of them alive?
On this week’s Drilling Deep podcast, host John Kingston brings in attorney Matt Ferris from the firm of Haynes & Boone to talk about a changed provision in federal bankruptcy law that could keep a lot of smaller companies alive when liquidation might otherwise have been the only course of action.
Larger companies utilize Chapter 11 to reorganize and continue on; as Ferris notes, it’s been tougher for smaller companies to do that. But those changes in the law will open the door a little wider to staying solvent rather than disappearing.
John will also talk about just how much diesel is in inventory in this country. The volume is close to unprecedented.
Art
“Let them eat cake” – Marie Antoinette
Michael Evans
Times are tough for everyone right now. The pandemic is reeking havoc on everyone and everything. The trucking industry is not immune to the uncertainty. I have faith, however that things are going to get better. It’s just going to take time and perseverance on everyone’s part. The trucking industry is vital and will once again strengthen, hopefully to its former glory.