First Day by Reorg: A Review of Chapter 11 Filings in 2022

Sponsored by Reorg

The first half of 2022 set a First Day record for fewest chapter 11 filings over any calendar six-month period, but chapter 11s picked up in the second half of the year, with Q4 concluding as the year’s busiest quarter and December closing out as the year's busiest month. Ignoring real estate cases, which peaked in 2021, the frequency of chapter 11 cases fell by only 1% in 2022. Despite the waning of COVID-19, companies continue to cite the pandemic as at least part of the reason for their bankruptcy filings. However, during 2022 the cause of many chapter 11 filings moved away from pandemic factors, such as work stoppages and lower demand, to supply-side macroeconomic factors, including supply chain issues, labor costs and inflation. Rising interest rates and the collapse of crypto are also becoming prominent reasons for bankruptcy filings.

Monday, February 13, 2023

12:00-1:15 PM EST

This webinar is free to attend, and CLE is available to members in qualifying states.*

John Hartgen,
Moderator
ABI
Alexandria, Va.

Ian Howland
First Day by Reorg
New York

Jessica Steinhagen
First Day by Reorg
New York

Joshua A. Sussberg
Kirkland & Ellis LLP
New York

* 1.25 hours of general CLE credit are available in the following pre-approved 60-minute-hour states (1.5 hours in 50-minute-hour states): AK, AL, AR, CA, DE, GA, IL, MO, NJ, PA, SC, TN, TX, VT, WI and WV. These states follow an approved-jurisdiction policy: AZ, CO, CT, NH and NY. ABI will submit attendance to DE, IL, NV, PA, TN and TX. Attendees from Illinois claiming credit more than 30 days after an event will be charged the $25 Illinois late-credit claim fee that went into effect on Jan. 1, 2020. For those jurisdictions not listed, ABI will not seek direct accreditation; attorneys will need to self-submit. Some states might not allow self-submission. ABI will issue certificates for attorneys to self-submit for approval. ABI charges an administrative fee of $5 for Members and $25 for non-members upon requesting CLE credit for this program. Further details will be provided the day of the event.