November 8, 2010
Bankruptcy cases filed in federal courts for fiscal year 2010, the 12-month period ending September 30, totaled 1,596,355, up 13.8 percent over total FY 2009 bankruptcy filings of 1,402,816, according to statistics released today by the Administrative Office of the U.S. Courts. While non-business bankruptcy filings continued to rise in FY 2010, business filings dropped slightly for the first time since 2006. The bankruptcies reported today are for October 1, 2009 through September 30, 2010.
Additional statistics released today include business and non-business bankruptcy filings for the 12-month period ending September 30, 2010 (Table F-2, 12-month); a comparison of September 2009 and 2010 filings (Table F), 4th quarter filings (Table F-2, 3-month); monthly filings for the 12-month period ending September 30, 2010 (Table F-2, Monthly); and filings per capita.
Business Bankruptcy Filings Fall
For the 12-month period ending September 30, 2010, business bankruptcy filings—defined in the Bankruptcy Code as those filings where the debtor is a corporation or partnership, or if the debt is predominantly related to the operation of a business—totaled 58,322, down 0.7 percent from the 58,721 business filings in the 12-month period ending September 30, 2009. Non-business bankruptcy filings totaled 1,538,033, up 14.4 percent from the 1,344,095 non-business bankruptcy filings in September 2009. This is the highest number of non-business filings for a fiscal year since FY 2005, immediately prior to the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act in October 2006.
Filings Under All Chapters
In FY 2010, filings rose for most bankruptcy chapters:
Chapter 7 filings in FY 2010 totaled 1,146,511, up 15.9 percent from the 989,227 chapter 7 filings in FY 2009.
Chapter 11 filings fell 3.8 percent, decreasing from 14,745 in FY 2009 to 14,191 in FY 2010.
Chapter 13 filings rose 9.2 percent, from 398,210 in FY 2009 to 434,839 in FY 2010.
In FY 2010,chapter 12 filings totaled 707, up 45.2 percent from the 487 chapter 12 filings in FY 2009.
Fourth Quarter Filings
The 3-month period ending September 30, 2010, was the Judiciary’s final quarter of fiscal year 2010. Bankruptcy filings in the fourth quarter totaled 412,380, up 6.2 percent from the 388,485 bankruptcy cases filed in the final quarter of FY 2009. For a breakdown of filings by all chapters for the quarter, see Table F-2, 3-month period.
Bankruptcy cases filed in federal courts for fiscal year 2010, the 12-month period ending September 30, totaled 1,596,355, up 13.8 percent over total FY 2009 bankruptcy filings of 1,402,816, according to statistics released today by the Administrative Office of the U.S. Courts. While non-business bankruptcy filings continued to rise in FY 2010, business filings dropped slightly for the first time since 2006. The bankruptcies reported today are for October 1, 2009 through September 30, 2010.
Additional statistics released today include business and non-business bankruptcy filings for the 12-month period ending September 30, 2010 (Table F-2, 12-month); a comparison of September 2009 and 2010 filings (Table F), 4th quarter filings (Table F-2, 3-month); monthly filings for the 12-month period ending September 30, 2010 (Table F-2, Monthly); and filings per capita.
Business Bankruptcy Filings Fall
For the 12-month period ending September 30, 2010, business bankruptcy filings—defined in the Bankruptcy Code as those filings where the debtor is a corporation or partnership, or if the debt is predominantly related to the operation of a business—totaled 58,322, down 0.7 percent from the 58,721 business filings in the 12-month period ending September 30, 2009. Non-business bankruptcy filings totaled 1,538,033, up 14.4 percent from the 1,344,095 non-business bankruptcy filings in September 2009. This is the highest number of non-business filings for a fiscal year since FY 2005, immediately prior to the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act in October 2006.
Filings Under All Chapters
In FY 2010, filings rose for most bankruptcy chapters:
Chapter 7 filings in FY 2010 totaled 1,146,511, up 15.9 percent from the 989,227 chapter 7 filings in FY 2009.
Chapter 11 filings fell 3.8 percent, decreasing from 14,745 in FY 2009 to 14,191 in FY 2010.
Chapter 13 filings rose 9.2 percent, from 398,210 in FY 2009 to 434,839 in FY 2010.
In FY 2010,chapter 12 filings totaled 707, up 45.2 percent from the 487 chapter 12 filings in FY 2009.
Fourth Quarter Filings
The 3-month period ending September 30, 2010, was the Judiciary’s final quarter of fiscal year 2010. Bankruptcy filings in the fourth quarter totaled 412,380, up 6.2 percent from the 388,485 bankruptcy cases filed in the final quarter of FY 2009. For a breakdown of filings by all chapters for the quarter, see Table F-2, 3-month period.
Closed November 2010
Comment