The positive outlook on the likely slower pace of companies going bust came from a survey of six leading insolvency and restructuring practitioners by Chanticleers colleague, John Kehoe.
The thinking among experts from Ashurst, Duff & Phelps, Clayton Utz, Baker McKenzie and Norton Rose Fulbright is that banks will continue to show leniency towards businesses that can viably restructure.
But thousands of other firms in hospitality, retail, tourism and real estate will inevitably go bust.
The wave of COVID-19-induced creative destruction in the corporate sector is likely to follow the trend of the past few years, whereby the first port of call for creditors of medium to large companies is voluntary administration.
Long gone are the days w…
Read the full article at: https://www.afr.com/chanticleer/going-bust-ain-t-what-it-used-to-be-20210108-p56sno