Total commercial Chapter 11 filings in July 2020 increased 52% from the previous year, according to data provided by Epiq.
The ABI reported total commercial Chapter 11 filings during the first six months of 2020 increased 26% to 3,604 from the 2,855 total filings during the same period in 2019, according to data provided by Epiq.
According to data from the American Bankruptcy Institute, 471 small businesses elected to file for bankruptcy relief under the new Subchapter V to Chapter 11 of the Bankruptcy Code since it was enacted.
Bankruptcy judge Barbara Houser, president of the American Bankruptcy Institute, issued a statement on ABI’s commitment to diversity and inclusion, including an update on the work of ABI’s diversity and inclusion working group.
Total commercial Chapter 11 filings in May 2020 increased 48% from May 2019, according to data provided by Epiq Systems. However, total bankruptcy filings in May 2020 were down 42% from total filings in May 2019.
The American Bankruptcy Institute (ABI) launched a COVID-19 resources website for bankruptcy professionals and the public to access information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic.
The American Bankruptcy Institute is offering complimentary access to its collection of more than 2,700 sessions on its eLearning website during the ongoing COVID-19 quarantine.
While Chapter 11 filings in 2019 were about half of the peak reached in 2005, there were significant filings by iconic companies. The American Bankruptcy Institute monitors the bankruptcy landscape and lobbies to pass key legislation, like the Small Business Reorganization Act of 2019. Amy Quackenboss and Ed Flynn provide an overview of significant bankruptcy actions in 2019 and look ahead to 2020.
As a new decade dawns, a changing of the guard brings new leadership to the American Bankruptcy Institute. Longtime deputy director Amy Quackenboss has taken the reins upon the retirement of Sam Gerdano.