The legal aftermath of the epidemic is a threat to our recovery. “Business as usual” will likely prove impossible, considering the volume of litigation and the limited budgetary resources expected for courts during the recovery period. Meanwhile, unprecedented mass business shutdowns have detonated a chain reaction of unparalleled mass breaches of contract and lease defaults throughout the economy, dwarfing those of the Great Recession.

In normal times (which of course these are not), it would take years for lawyers to litigate and for courts to adjudicate who ultimately must bear the burden of these colossal losses. The prolonged uncertainty and expense would in turn risk destroying the business operations we need to restart the economy. Despite the availability of aid, especially if closures continue deep into this spring and if consumer confidence remains low, the depletion of cash reserves and strain on credit lines will push to the brink companies that just months ago had sound or even robust balance sheets.

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