Bauer Business Focus

Bankruptcy Attorneys Expect Increase In Bankruptcies From Oil Price Drop

Texas bankruptcy attorneys expect a 30 percent increase in business bankruptcy filings and restructurings this year. That would be the state’s fourth-highest level of business bankruptcy filings in 12 years.

Marc Schwartz
Company president and co-founder Marc Schwartz

Texas bankruptcy attorneys expect business bankruptcy filings and restructurings to increase 30 percent this year. That’s according to Houston financial restructuring firm HSSK. Company president and co-founder Marc Schwartz tells Bauer Business Focus that anecdotal indications he’s seen in the past several months largely place the blame on declining fuel prices.

The poll sampled more than two dozen bankruptcy attorneys in seven Texas cities (38 percent from the Houston area). The average liability in restructuring handled by those attorneys is slightly over $100 million. In 2015, one-third of potential bankruptcy cases were resolved without a bankruptcy filing.

HSSK is a Houston-based business valuation, litigation consulting and financial restructuring firm.

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