TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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November 8, 2021
Source: Polsinelli
The Polsinelli-TrBK Distress Indices Monitor on Rolling Four-Quarter Basis
NEW YORK — With bankruptcy filings dropping across industries in the third quarter of 2021, professionals expect a wave of activity over the next year, as seen in the newest Polsinelli-TrBK Distress Indices Report. The report’s overall filing numbers are at the lowest point since the benchmark period – nearly 11 years ago.
Overall, general Chapter 11 filings have dropped to their lowest since the second quarter of 2019, marking the third consecutive quarter of lower filings. Real estate filings have stabilized, while health care is still well below the benchmark.
“I don’t recommend filing unless it’s a defensive claim – one that will stop a creditor from taking enforcement action, or offensive – one implementing a deal with lenders or other creditors,” said Polsinelli Shareholder Jeremy Johnson, a bankruptcy and restructuring attorney and co-author of the report. “With the rapid decrease in filings, we anticipate filing numbers will increase. These situations include poorly written deals made to survive immediate problems, lenders continuing to work with borrowers despite restrictions, an uncertain post-COVID landscape, and a potential end to government support.”
The Polsinelli-TrBK Distress Indices are the backbone of a quarterly research report series that uses Chapter 11 filing data – bankruptcies with more than $1 million in assets – as a proxy for measuring financial distress in the overall U.S. economy and breakdowns of distress specifically in the real estate and health care services sectors. It is the only current measurement that tracks both Main Street and Wall Street statistics.
The report, released today by Am Law 100 firm Polsinelli, also highlights economic distress in the real estate industry. The industry is still experiencing a slow, steady stream of bankruptcies as experts await the anticipated increase in filings from post-pandemic lifting of eviction moratoria.
Other significant updates in the report include:
• The Chapter 11 Distress Research Index was 48.94 for the third quarter of 2021. The Chapter 11 Index decreased over 17 points since the last quarter. Compared with the same period one year ago, the Index has decreased over 32 points and compared with the benchmark period of the fourth quarter of 2010, it is down over 51 points.
• The Real Estate Distress Research Index was 21.68 for the third quarter of 2021. The Real Estate Index has decreased less than one point since the last quarter. Compared with the same period one year ago, the Index decreased more than seven points and compared with the benchmark period of the fourth quarter of 2010, it is down over 78 points.
• The Health Care Services Distress Research Index was 88.33 for the third quarter of 2021. The Health Care Index increased 25 points since the last quarter. Compared with the same period one year ago, the Index has decreased over 380 points and compared with the benchmark period of the fourth quarter of 2010, it is down over 21 points. After significantly exceeding the benchmark period for the last several quarters, the Index has been below the benchmark the last two consecutive quarters.
The Polsinelli-TrBK Distress Indices track the increase or decrease in all Chapter 11 filings with more than $1 million in assets since the fourth quarter of 2010. Unlike the public markets, the Polsinelli-TrBK Distress Indices include both public and private companies, creating a broader economic view and one that may show developing trends on Main Street before they appear on Wall Street.
To access the full report, graphs and all past analyses, visit www.distressindex.com.
About Polsinelli
Polsinelli is an Am Law 100 firm with 900 attorneys in 21 offices nationwide. Recognized by legal research firm BTI Consulting as one of the top firms for excellent client service and client relationships, the firm’s attorneys provide value through practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, middle-market corporate, labor and employment and business litigation. Polsinelli PC, Polsinelli LLP in California.
NEW YORK — With bankruptcy filings dropping across industries in the third quarter of 2021, professionals expect a wave of activity over the next year, as seen in the newest Polsinelli-TrBK Distress Indices Report. The report’s overall filing numbers are at the lowest point since the benchmark period – nearly 11 years ago.
Overall, general Chapter 11 filings have dropped to their lowest since the second quarter of 2019, marking the third consecutive quarter of lower filings. Real estate filings have stabilized, while health care is still well below the benchmark.
“I don’t recommend filing unless it’s a defensive claim – one that will stop a creditor from taking enforcement action, or offensive – one implementing a deal with lenders or other creditors,” said Polsinelli Shareholder Jeremy Johnson, a bankruptcy and restructuring attorney and co-author of the report. “With the rapid decrease in filings, we anticipate filing numbers will increase. These situations include poorly written deals made to survive immediate problems, lenders continuing to work with borrowers despite restrictions, an uncertain post-COVID landscape, and a potential end to government support.”
The Polsinelli-TrBK Distress Indices are the backbone of a quarterly research report series that uses Chapter 11 filing data – bankruptcies with more than $1 million in assets – as a proxy for measuring financial distress in the overall U.S. economy and breakdowns of distress specifically in the real estate and health care services sectors. It is the only current measurement that tracks both Main Street and Wall Street statistics.
The report, released today by Am Law 100 firm Polsinelli, also highlights economic distress in the real estate industry. The industry is still experiencing a slow, steady stream of bankruptcies as experts await the anticipated increase in filings from post-pandemic lifting of eviction moratoria.
Other significant updates in the report include:
• The Chapter 11 Distress Research Index was 48.94 for the third quarter of 2021. The Chapter 11 Index decreased over 17 points since the last quarter. Compared with the same period one year ago, the Index has decreased over 32 points and compared with the benchmark period of the fourth quarter of 2010, it is down over 51 points.
• The Real Estate Distress Research Index was 21.68 for the third quarter of 2021. The Real Estate Index has decreased less than one point since the last quarter. Compared with the same period one year ago, the Index decreased more than seven points and compared with the benchmark period of the fourth quarter of 2010, it is down over 78 points.
• The Health Care Services Distress Research Index was 88.33 for the third quarter of 2021. The Health Care Index increased 25 points since the last quarter. Compared with the same period one year ago, the Index has decreased over 380 points and compared with the benchmark period of the fourth quarter of 2010, it is down over 21 points. After significantly exceeding the benchmark period for the last several quarters, the Index has been below the benchmark the last two consecutive quarters.
The Polsinelli-TrBK Distress Indices track the increase or decrease in all Chapter 11 filings with more than $1 million in assets since the fourth quarter of 2010. Unlike the public markets, the Polsinelli-TrBK Distress Indices include both public and private companies, creating a broader economic view and one that may show developing trends on Main Street before they appear on Wall Street.
To access the full report, graphs and all past analyses, visit www.distressindex.com.
About Polsinelli
Polsinelli is an Am Law 100 firm with 900 attorneys in 21 offices nationwide. Recognized by legal research firm BTI Consulting as one of the top firms for excellent client service and client relationships, the firm’s attorneys provide value through practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, middle-market corporate, labor and employment and business litigation. Polsinelli PC, Polsinelli LLP in California.
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