Jay Bender was quoted in Law360 regarding the ramifications of the recent plunge in oil prices. Smaller energy companies and other sectors of the oil and gas industry are advised to take a proactive approach to avoid bankruptcy during this period of financial uncertainty.
“The world just changed so quickly, and the pricing and the models just changed so quickly that trying to avoid default is perhaps not possible,” said Bender. “All sections of the industry were hit hard, which gives companies the opportunity to work with lenders to restructure debt and even sell back rigs or other equipment that won’t be used.”
Read the entire Law360 article, "As Oil Prices Drop, Bankruptcy Attys Say Strike Early."