THE USA IS PLAGUED WITH MASS BANKRUPTCIES

The reports of the American lawyers from the Epiq Company show that the number of bankrupt American entrepreneurs in 2020 has grown by one third. Compared to September 2019, when 420 bankruptcy petitions were filed with the US courts, the number of similar applications in September 2020 reached 747.

At the same time, the indicators of bankruptcy of individuals and non-profit organizations even decreased, which indicates the effectiveness of measures to prevent the wave of individual bankruptcies.

They are governmental programs for lending to small and medium-sized enterprises that have reduced the number of submitted applications by 43% (in 2019,there were 206,933 applications, and in 2020 there are only 118,306). But the market leaders with debt obligations of $ 50 million and more are not likely to receive special assistance from the state.

Experts note that the situation with commercial bankruptcies in the United States can serve as an indicator for the entire global economic system. A wave of bankruptcies is expected in other countries as well. For example, it is forecasted that more than 29,000 companies of Germany may become insolvent this year.

Analysts at Epiq believe that the current wave of bankruptcies is only the first in line, given the indicators of the large-scale crisis in 2008-2009. Then the number of bankrupt companies reached 12,644.

In the wake of the current rise in insolvency of the large companies, lawyers are waiting for the applications from airlines, cruise organizers, hoteliers and property owners. At the same time, according to analysts of the S&P Global Ratings, the total amount of insolvencies this year will undoubtedly exceed the figures of 2009.