News: General News

November Commercial Chapter 11 Filings Increase 37 Percent over October

Tuesday, December 5, 2017  
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Commercial chapter 11 filings increased 12 percent in November 2017 over November of last year and 37 percent over October 2017, according to data provided by American Bankruptcy Institute and Epiq Systems Inc. Commercial chapter 11s totaled 433 in November 2017, up from the 386 commercial chapter 11s in November 2016. Commercial bankruptcy filings totaled 2,985 in November 2017, a 1 percent increase from the 2,955 commercial filings in November 2016 and a 1 percent decrease from the 3,010 filings last month.

Total bankruptcy filings registered a slight increase as the 60,287 reported filings in November 2017 were up 2 percent from the November 2016 total of 59,349 and down 7 percent from October 2017’s 64,601 filings. Consumer bankruptcies also increased slightly in November 2017, as the 57,302 reported filings were 2 percent more than the 56,394 consumer filings registered in November 2016. This represents a 7 percent decrease from October 2017’s noncommercial filing total of 61,591.

The average nationwide per capita bankruptcy filing rate for the first 11 calendar months of 2017 (Jan. 1-Nov. 30) fell slightly to 2.51 (total filings per 1,000 population) from the rate registered during the first 10 months of the year. The average daily filing total in November 2017 was 3,014, a 2 percent increase from the 2,967 total daily filings registered in November 2016.