FINANCIAL INDUSTRY NEWS
Untitled Page
October bankruptcies continue to inch down
Year-to-date bankruptcy numbers are lower, but only marginally
by Caitlin AdamsPublished: November 22, 2011 09:15 AM
A total of 1,440 businesses and individuals filed for some form of bankruptcy protection in October, a decline of 8.2 percent from the same time in 2010, according to the latest statistics from the U.S. Bankruptcy Court for California’s Central District. The number of bankruptcy filings increased marginally in August and May, but overall has been decreasing steadily for the last seven months. Year-to-date numbers indicate that total filings in the first 10 months of 2011 have declined by 1.9 percent compared to the same period in 2010.
Among October’s filings, the majority of cases were Chapter 7, a total of 1,078. That figure decreased by 13.7 percent from the same month in 2010.
Filings for Chapter 11 and Chapter 13 protection both increased, however; Chapter 11 filings went up by 50 percent, and Chapter 13 cases increased by 16.4 percent, compared to the same time in 2010. There were no Chapter 12 protection filings in October, a figure that remains unchanged from 2010.
Total bankruptcy filings for the seven-county district, which includes Orange, Los Angeles, Riverside, San Bernardino, San Luis Obispo, Santa Barbara and Ventura, number at 10,233, a decline of 15.4 percent. Year-to-date filings for the district are also down compared to 2010, by 3.9 percent.
Related headlines
William Lyon Homes prepares for Chapter 11
John McMonigle files for bankruptcy
O.C. bankruptcies rise 28 percent last year
|
||||
|
Among October’s filings, the majority of cases were Chapter 7, a total of 1,078. That figure decreased by 13.7 percent from the same month in 2010. Filings for Chapter 11 and Chapter 13 protection both increased, however; Chapter 11 filings went up by 50 percent, and Chapter 13 cases increased by 16.4 percent, compared to the same time in 2010. There were no Chapter 12 protection filings in October, a figure that remains unchanged from 2010. Total bankruptcy filings for the seven-county district, which includes Orange, Los Angeles, Riverside, San Bernardino, San Luis Obispo, Santa Barbara and Ventura, number at 10,233, a decline of 15.4 percent. Year-to-date filings for the district are also down compared to 2010, by 3.9 percent. Related headlines William Lyon Homes prepares for Chapter 11 John McMonigle files for bankruptcy O.C. bankruptcies rise 28 percent last year |
||||
