The S&P Global Market Intelligence blog featured comments from attorney Jason B. Binford on the state of bankruptcies in the oil and gas industry. The post notes that after hundreds of bankruptcy filings over the last three years, the industry is poised to experience an upswing due to a rise in commodity prices.
“What a lot of companies don’t realize — one of the counterintuitive things — is how expensive bankruptcy is,” Binford said. “It’s very expensive to go broke.”
Binford works with franchisors, franchisees and related parties to provide workable, real-world solutions to deal with financial distress.