James A. Timko, a partner in Shutts & Bowen LLP’s Orlando office, recently authored a guest article for the Orlando Business Journal discussing why local business bankruptcy filings declined last year, despite the COVID-19 pandemic.
In the article, James breaks down the overall decline of bankruptcy filings and Chapter 13 cases, nationally and in Florida’s Districts. Also discussing small business relief measures instituted by Congress to increase eligibility for Chapter 11 plans under Subchapter V of the Bankruptcy Code, James again notes an overall decrease in filings. He goes on to delineate the local factors affecting filing rates, and his predictions for bankruptcy filing rates as 2021 progresses. “With respect to bankruptcy filings overall, the law of averages predicts that because there was a significant decrease in filings last year, 2021 will see a large increase in filings once circumstances start to get back to normal post-pandemic,” said James. “Only time will tell.”
To read the Orlando Business Journal article, click here.
About James A. Timko
James A. Timko is a partner in the Orlando office of Shutts & Bowen, where he is a member of the Creditors' Rights/Bankruptcy Practice Group and a business litigator. James has received Martindale-Hubbell's highest rating as an attorney whose practice involves distressed assets, bankruptcy and commercial litigation. He's also a certified circuit civil mediator. James represents creditors, debtors, secured, lenders, mortgage companies, landlords, franchisors, bankruptcy trustees and other business enterprises in chapter 7 and chapter 11 bankruptcy cases and in assignment for the benefit of creditors’ cases. James also has significant experience resolving general commercial disputes, including copyright disputes. He's also represented institutional lenders in connection with asset based lending transactions and real estate transactions. A national speaker and author on creditors' rights and bankruptcy law, James is the former president of the Florida chapter of the Turnaround Management Association, the premier international professional organization dedicated to corporate renewal and turnaround management.