Joshua Macey Discusses Bankruptcy in the Fossil Fuel Industry
Going for Broke
In times of economic crisis, bankruptcy has been a frequent fate for struggling corporations. Given the troubled state of the fossil fuel sector, almost 250 oil and gas companies could file for bankruptcy protection in the US by the end of 2021. This ismore than the previous five years combined.
But what does filing for bankruptcy actually mean for a corporation? What patterns can we observe from fossil fuel companies that have declared bankruptcy in the past? What are key elements to consider in a restructuring process that might result from bankruptcy, like spin offs or asset sales? How do these issues stack up when we are looking at bankruptcy as a way to wind down the fossil fuel industry?
In this episode we will be speaking to Dr. Joshua Macey, assistant professor of law at the University of Chicago Law School. He specializes in environmental and energy law as well as in bankruptcy and financial regulation.
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