Research from the Brookings Institute finds that the COVID-19 pandemic’s impact on firm profits and revenues thus far is comparable to the worst quarter of the 2008-2009 financial crisis. The researchers further project that bankruptcy filings will increase by as much as 140 percent this year compared with last year. [Brookings; Sept. 23, 2020]

Bloomberg reports that Malaysia Airlines Bhd. has been in contact with lessors, creditors, and key suppliers in order to effectuate an urgent financial restructuring as the company approaches a potential liquidity crisis in November of 2020. [Bloomberg; Oct. 2, 2020]

Reporting from the Wall Street Journal indicates that satellite communications company Ligado Networks LLC is seeking approximately $4 billion in additional debt financing in order to avoid a chapter 11 bankruptcy filing. Ligado currently has approximately $2 billion in loans coming due in December of 2020. [WSJ; Oct. 1, 2020]

Reuters reports that Lonestar Resources US Inc. filed for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the Southern District of Texas on Wednesday, September 29, 2020. Lonestar will reportedly seek to eliminate approximately $390 million as part of its plan of reorganization. [Reuters; Oct. 1, 2020]