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.