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Commercial Chapter 11 Filings Increase 70% in First Half of 2024
The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70 percent increase over the 582 filed during the same period in 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. All chapters increased in June 2024 compared to June 2023. Overall commercial...
“The continued increase in bankruptcy filings reflects the growing economic strain on businesses and households,” said ABI Executive Director Amy Quackenboss. “We hope that efforts continue on Capitol Hill to reinstate higher debt-eligibility limits for small businesses and chapter 13 filers to create greater access and a more efficient process for small businesses and families to achieve a financial fresh start.” Sen. Richard Durbin (D-Ill.), who, along with a group of bipartisan senators, had introduced S. 4150 on April 17 to extend the enhanced limits for subchapter V elections and chapter 13 filers for an additional two years, has vowed to continue to try to restore greater access for small businesses and consumers.
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