Bankruptcy filings for the 12-month period ending March 31, 2013, fell 14.4 percent when compared to bankruptcy filings for the 12-month period ending March 31, 2012, according to statistics released by the Administrative Office of the U.S. Courts.
Federal bankruptcy courts will institute a new $25 fee for filing evidence of claims transfers, transactions in which bankruptcy claims are sold by one creditor to another, usually as part of a speculative investment. The fee, approved last September by the Judicial Conference of the United States, will take effect May 1.
Bankruptcy claim transfers are a thriving, if little-known, part of the bankruptcy process, and constitute a multi-billion-dollar industry.
Bankruptcy filings in the federal courts fell 13 percent in calendar year 2012, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the 12-month period ending December 31, 2012, totaled 1,221,091, down from the 1,410,653 bankruptcies filed in CY 2011.
Bankruptcy cases filed in federal courts for fiscal year 2012, the 12-month period ending September 30, 2012, totaled 1,261,140, down 14 percent from the 1,467,221 bankruptcy cases filed in FY 2011, according to statistics released today by the Administrative Office of the U.S. Courts.
Bankruptcy filings for the 12-month period ending June 30, 2012, totaled 1,311,602 petitions, 14 percent less than the 1,529,560 filed in the 12-month period ending June 30, 2011, according to statistics released today by the Administrative Office of the U.S. Courts.
Over the last few weeks, municipalities have declared bankruptcy. Chapter 9 of the Bankruptcy Code provides for reorganization of municipalities, which includes cities and towns, as well as villages, counties, taxing districts, municipal utilities, and school districts.
Fees for filing a Chapter 11 bankruptcy case will increase for cases filed on or after November 21, 2012. The fee increase was included in the Temporary Bankruptcy Judgeships Extension Act of 2012 (Pub. L. No. 112-121) which was signed into law by the President on May 25, 2012.
U.S. bankruptcy courts increasingly are concerned with abuses committed by some non-lawyers in the business of helping prepare bankruptcy filing documents for a fee.
Bankruptcy filings for the 12-month period ending March 31, 2012, fell 13 percent compared to bankruptcy filings for the 12-months ending March 31, 2011, according to statistics released today by the Administrative Office of the U.S. Courts.
Bankruptcy filings in the federal courts fell 11.5 percent in calendar year 2011. The number of bankruptcies filed in the 12-month period ending December 31, 2011, totaled 1,410,653 – down from 1,593,081 bankruptcies filed in 2010.
