As pandemic aid begins to wind down, more Arizona companies are in financial trouble. To help viewers understand the scope of the problem, ABC15 turned to Lamar Hawkins for insight on what businesses and individuals can expect and how to prepare.
Lamar, who confirmed Arizona’s first Subchapter V 11 bankruptcy, shared how Subchapter V 11 bankruptcy is a more efficient and affordable option — a “life raft for businesses trying to stay afloat.” Additionally, he warned the situation will most likely worsen, with a wave of individual filings coming next. Lamar recommended Arizonans hold on to their stimulus money to make necessary payments when the time comes.
A well-known bankruptcy attorney who assists his clients with all phases of commercial and consumer debt workout and bankruptcy services, Lamar enjoys helping others find a light at the end of the tunnel. Media outlets and industry publications regularly call on him for financial and legal advice, including ABC15, which previously turned to him in December 2020. Moreover, he serves as the chair of the Arizona Board of Legal Specialization’s Bankruptcy Law Advisory Commission.