Jeff Prostok features in a recent article published in The Texas Lawbook on the rise of business bankruptcies in Texas
Jeff Prostok, a Fort Worth bankruptcy lawyer with the firm Forsey Prostok, said that the bankruptcies already filed have been enormous. The reason many companies are holding off going to court is the lack of funding to exit bankruptcy in a financially health position.
“There is so much uncertainty,” Prostok said. “How do you reorganize or restructure if you don’t know what your revenue stream is going to be for the year ahead. There is no way to project.
“What is a bank going to do with a hotel that specializes in big events?” he continued. “Landlords don’t have a lot of options. They don’t have future tenants standing in line right now to sign new lease agreements.”