After months of leniency, banks getting tougher on struggling energy companies – HBJ

Almost a year into the brunt of the energy slump, Houston banks have no other choice but to be tougher on small- and midsized energy companies that are defaulting on their loans, said Lydia Protopapas, partner at Chicago-based Winston & Strawn LLP’s Houston bankruptcy practice.  And that toughness is manifesting into a boon for Houston’s bankruptcy lawyers. This past August, the energy market had 20 bankruptcy filings, many of those filings taking place in Houston and most taking place in Texas, Protopapas said. By comparison, the national energy market saw a total of around 20 bankruptcies between January and August of this year, Protopapas said; in both cases, most companies had less than a billion in revenue.

Source: Winston & Strawn’s Lydia Protopapas on energy companies filing for bankruptcy – Houston Business Journal

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