Hi, I'm Suzy with the Bloomberg Law Analysis Team. As business responses to COVID-19 move past reacting to the health crisis, attention will shift to how to respond to the economic downturn. The Bloomberg Economics Recession Tracker went from 28 to 53 to 100 percent in just about 60 days. The question isn't whether bankruptcy failings will increase. The questions are by how much and how quickly. My colleague, Tied Repu, proposes that skyrocketing unemployment rates might be the best indicator. According to the Bureau of Labor Statistics, in October of 2009, the adjusted unemployment rate peaked at 10 percent. Only a few months later, in March of 2010, consumer, chapter 7 and chapter 13 bankruptcies reached their highest numbers. 2010 would go on to be a record year for bankruptcy with over 1.5 million filings. Year over year bankruptcy filings tend to rise and fall with the unemployment rate. As the unemployment rate rose from 2007 to 2010, so did the number of bankruptcy filings. Likewise, the number of filings dropped with the unemployment rate from 2011 to 2018. If the unemployment rate more than quadruples, it's safe to say that the number of bankruptcy filings could easily double. Well, we don't know exactly what will happen as the economy reopens. We do know businesses will be faced with making strategic decisions about how to remain operational or how to close their business. Subscribers can find more information on remaining operational and business closure on our two new and focus pages. The remaining operational page provides attorneys with guidance and tools to advise companies reviewing their core business supply chain, finance and communication strategies. The closure page provides attorneys with the resources they need to make the decision whether to dissolve their business or liquidate through bankruptcy.