The COVID induced debt spike on corporate balance sheets portends a wave of future bankruptcy cases. Congress should act now to build up a bankruptcy infrastructure by requiring that every circuit create a “business bankruptcy panel” designed to administer the Chapter 11 filing of large companies. Recent Delaware caselaw would likely enforce a corporation’s precommitment to file in one of these venues.

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COVID-19 债务和破产基础设施

COVID导致企业资产负债表的债务飙升预示着未来将出现一波破产案件。国会现在应该采取行动，通过要求每个巡回法院设立一个旨在管理大公司第 11 章备案的“企业破产小组”来建立破产基础设施。最近的特拉华州判例法可能会强制执行公司在这些地点之一提交文件的预先承诺。