The firm’s Daniel Charest believes that the ongoing oil price collapse will inevitably force many companies to liquidate assets and some will be driven out of existence. “It’s a yard sale,” he said in an interview with legal publication Law360. 

“You’re going to see more contested bankruptcies, as there’s not an expectation of companies coming out alive,” he said.

According to the article some $200 billion worth of oil and gas company debt is set to mature in the near term, setting up highly contested battles between competing creditors and fewer acquisition capabilities from stable investors.

To read the article (password protected) go to Law360.