Commercial Chapter 11 Bankruptcy Filings Increase 54% Y/Y in August
There were 634 commercial Chapter 11 filings registered in August, an increase of 54% from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy.
There were 634 commercial Chapter 11 filings registered in August, an increase of 54% from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy.
According to Epiq Bankruptcy, commercial Chapter 11 filings increased 105% in May 2023 to 680 versus the 332 filings in May 2022. Nearly half of the Chapter 11 filings were made by corporate subsidiaries.
Small business bankruptcy filings, captured as Subchapter V elections within Chapter 11, increased 81% year over year in April, according to Epiq Bankruptcy. All Chapter 11 filings increased 32% year over year in April.
The American Bankruptcy Institute elected Soneet R. Kapila of KapilaMukamal president for a one-year term. In addition, Christopher A. Ward of Polsinelli, who was formerly ABI vice president of development, was named president-elect.
MACCO Restructuring Group was awarded the Sale of the Year by the asset sale committee of the American Bankruptcy Institute for its work on the Chapter 11 bankruptcy case of LaForta – Gestão e Investimentos, Sociedade Unipessoal, Lda.
The American Bankruptcy Institute will hold its annual spring meeting in Washington, D.C. from April 20 to April 22.
New bankruptcy filings in February registered double-digit year-over-year increases across all major U.S. filing categories, according to data provided by Epiq Bankruptcy, including an 83% increase in Chapter 11 filings.
According to data provided by Epiq Bankruptcy, a provider of U.S. bankruptcy filing data, new bankruptcy filings were up year over year across Chapters 7, 11, 13 and 15 in January.
Commercial Chapter 11 filings increased by 2% to 3,816 in calendar year 2022 from the previous year’s total of 3,726, according to Epiq Bankruptcy.
The American Bankruptcy Institute’s Lifetime Achievement Award, which recognizes the recipient’s sustained and deep commitment to the leadership and governance of the organization, has been renamed after William A. Brandt, founder of Development Specialists.