Melko Quoted in Law360 About Impending Wave of Oil Industry Bankruptcies

04 September 2019 Law 360 News

Partner John Melko was quoted in the Law360 article, “Oil Bankruptcy Fights Looms as Prime Lenders Get Squeezed,” about how the latest bankruptcy wave affecting the U.S. oil industry has creditors on edge due to depressed asset values. There have been 26 upstream oil and gas company bankruptcies since mid-August of this year, but the insolvencies are looking different as banks and other first-lien holders may be forced to take financial hits as oil prices and demand falls.

“I think what people are realizing now is that the lower level we're at is going to be with us for a while,” said Melko, who co-chairs Foley & Lardner LLP's bankruptcy practice and vice chairs its oil and gas industry team. “People are taking a hard-eyed, more realistic, maybe more pessimistic view of the market and pricing their debt and balance sheets accordingly.”

Related Services

Insights

Should This Be a "Mobility" Industry Blog?
19 November 2019
Dashboard Insights
Will Other Tech Companies Join Microsoft in Honoring CCPA Across the U.S.?
18 November 2019
Internet, IT & e-Discovery Blog
Get Off My Lawn! Employers Gain Expanded Rights to Keep Unions Away from Their Property
18 November 2019
Labor & Employment Law Perspectives
Debunking Conventional Labor and Employment Wisdom
18 November 2019
Labor & Employment Law Perspectives
PATH Summit 2019
18-20 December 2019
Arlington, VA
Madison CLE Days
18-19 December 2019
Madison, WI
MedTech Impact Expo & Conference
13-15 December 2019
Las Vegas, NV
Review of 2020 Medicare Changes for Telehealth
11 December 2019
Member Call