Bankruptcy filings are decreasing nationwide but not in the Southern District, where judges are presiding over "a record high number of large mega cases," according to the State of the District report released today, the New York Law Journal reported today. U.S. District Chief Judge Colleen McMahon of the Southern District of New York lauded the performance of all the courts under her jurisdiction but said that she was concerned about the impact of federal budget cuts on the entire system. "Our overworked bankruptcy judges are working 24/7 365 on some of the most complicated cases in the country," McMahon said. The bankruptcy court's mega filings have increased 60 percent in fiscal year 2016 to 2017 compared to the previous year. Overall, total chapter 11 filings for the period have increased 8.5 percent and international cases, chapter 15, are up 70 percent. chapter 13 cases have risen almost 13 percent but chapter 7 cases have remained steady.
