Brittany Ogden Quoted in Equipment Finance News Article on Rising Farm Bankruptcies
Brittany Ogden, a Madison-based partner and national co-chair of the Quarles & Brady Bankruptcy, Restructuring & Creditor's Rights Practice Group, was quoted in an Equipment Finance News article that discussed rising Chapter 12 bankruptcy filings, which specifically cover family farms and fisherman, and how lenders in the agriculture equipment and agribusiness sectors are handling the increased pressure amid the downturn in farm performance.
Ogden said this is not a huge surprise for those who are paying attention to the commodities market, weather and tariffs in the administrative action. She also stated that due to interest rates, borrowing costs, geopolitical issues and tariffs, there is concern that Chapter 7 bankruptcies are leading and causing the downturn of farm performance.
An excerpt:
Bankruptcies remain on the rise due to several negative market conditions, Brittany Ogden said during this week’s Equipment Leasing and Finance Association’s annual convention in Marco Island, Fla. Ogden is a partner and the national co-chair of bankruptcy, restructuring and creditor’s rights practice group, in the Madison, Wis., office of business law firm Quarles & Brady,
“That really isn’t a huge surprise for those that are paying attention to the commodities market, to the weather, to what is trending with tariffs in the administrative action,” she said.
Meanwhile, an increase in Chapter 7 bankruptcies, or liquidations, adds to burdens on the agricultural sector, Ogden said.
“They are still below the pre-pandemic level, but because of the interest rates, borrowing costs, geopolitical issues, tariffs, there’s been some concern [that Chapter 7 bankruptcies are] leading and causing [the downturn], too,” she said.