'Mate, I'm Terrified': Sense of Dread Grips Corporate Undertakers as Coronavirus Crisis Spreads

“Mate, I’m terrified.” “All we need is for two big jobs, two major corporates to go under and there will be a run of people putting themselves into administration. It's a domino effect." The coronavirus pandemic swept through corporate Australia this week at a ferocious pace, forcing a string of companies to pull their financial forecasts and triggering steep share price falls, The Sydney Morning Herald reported. Economists fear the fallout from the unfolding emergency will be more severe than the global financial crisis, tipping the nation into a recession for the first time in more than two decades. If that transpires, Australia's corporate undertakers and restructuring lawyers might soon be flooded with work. But rather than optimism about a growing pipeline of potential projects, a sense of dread is enveloping the sector. The Age and The Sydney Morning Herald spoke to four of the most senior insolvency and restructuring practitioners in the country this week. Read more

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