Credit: kora_sun/Adobe Stock Even After an Interest Rate Cut, Fla. Lawyers Expect Bankruptcy Filings to Keep Rising
With inflation creating a cash crunch for businesses of all sizes, lawyers have seen filings increase in recent months. The problems are only expected to get worse as hurricanes continue barreling toward Florida and interest rate cuts have muted impact.
October 09, 2024 at 06:22 PM
4 minute read
Bankruptcy
What You Need to Know
- With inflation, natural disasters and election fears all adding pressure on businesses, local attorneys are expecting bankruptcy filings to rise.
- Filings have already been going up in recent months and the Fed's recent interest rate cut isn't expected to have an impact.
- Real estate, retail and hospitality have all fallen victim to rising costs, and price pressures are expected to continue getting worse.
Following the decision from the U.S. Federal Reserve to lower interest rates, lawyers are still seeing bankruptcy filings go up, with an expectation that the trend will continue.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Related Stories
View AllYou Might Like
View All
US Bankruptcy Filings Rise 16.2% as Interest Rates, Inflation, and End of COVID Relief Hit Hard
3 minute read
Subchapter V Bankruptcy Filings Plummeted After Congress Let Its Qualification Threshold Sunset
4 minute read
Sullivan & Cromwell Dismissed as Defendant in Lawsuit from FTX Investors
Trending Stories
- 1Kline & Specter Hit With Lawsuit From Another Former Associate
- 2USPTO Director Kathi Vidal Announces Resignation Ahead of Administration Change
- 3As Gen AI Acceptance Grows, Lawyers Race to Mitigate Risks
- 4Decisions Have 'Real-Life Consequences': Juvenile Court Judge Considered for Appellate Bench
- 5NY District Attorneys Ask for Level Funding Amid Statewide Drop in Violent Crime
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
