The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings decreased 7 percent in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021. Small business filings, captured as subchapter V elections within chapter 11, experienced an 8 percent decrease from 106 in June 2021 to 98 in June 2022. Total bankruptcy filings were 32,175 in June 2022, a 6 percent decline from the June 2021 total of 34,291. Noncommercial bankruptcy filings totaled 30,311 in June 2022, also registering a 6 percent decrease from the June 2021 noncommercial total of 32,292. Read more.
Total filings in the first half of 2022 point to a pace for the full year that could be the lowest since the 348,521 bankruptcies recorded by the Administrative Office of the U.S. Courts in calendar year 1984. Will total, business and consumer filings remain on this pace for the second half?
In partnership with Epiq, an abiLIVE webinar on July 12 will feature experts looking at filing trends through June 30 and providing their thoughts on what could happen with bankruptcies moving forward. Speakers on the program include ABI President Hon. Kevin Carey (ret.) of Hogan Lovells (Philadelphia), Deirdre O’Connor of Epiq (New York) and ABI's Ed Flynn (Alexandria, Va.). Christopher Kruse of Epiq (San Francisco) will serve as moderator for the program. Click here for your complimentary registration.
