News & Press: Newswire

CLLA Update - Bankruptcy Filings for 2016 Hit 30-year Low: ‘Flattening Out’

Friday, February 3, 2017   (0 Comments)
Share |

Bankruptcy Filings for 2016 Hit 30-year Low: ‘Flattening Out’

 

According to statistics released January 25 by the Administrative Office of the U.S. Courts (AOUSC), bankruptcy filings for the 12-month period ending Dec. 31, 2016, dropped 5.9 percent since last year.

 

The annual bankruptcy filings from December 2016 totaled 794,960, compared with 844,495 cases filed in 2015.

 

Breakdown by Chapter:

·         Chapter 7 – Filings totaled to 490,365, down from 535,047 in 2015.

·         Chapter 11 – filings totaled 7,292, and increase from 7,241 in previous year.

·         Chapter 13 filings totaled 296,655, down from 301,705 in the previous year.

 

 

Katherine Herrera

Webster, Chamberlain & Bean, LLP

1747 Pennsylvania Avenue, N.W., Suite 1000

Washington, DC 20006

Tel: (202)785-9500x133

Fax: (202)835-0243

kherrera@wc-b.com


    CONTACT

    Commercial Law League of America

    1000 N. Rand Rd., Suite 214
    Wauconda, IL 60084

    Phone: (312) 240-1400    |   Fax: (847) 526-3993

    info@clla.org

CONNECT