Commercial Chapter 11 Bankruptcies Fall 8 Percent
Thursday, June 8, 2017
Total commercial bankruptcy filings climbed 5 percent in May 2017, as the 3,572 filings increased slightly over the 3,412 commercial filings registered in May 2016, according to the latest data from the American Bankruptcy Institute and Epiq Systems. Total commercial chapter 11 filings decreased 8 percent to 563 in May 2017, down from the May 2016 total of 613.
May’s commercial filing total represented a 7 percent increase from the April 2017 commercial filing total of 3,351. Commercial chapter 11 filings decreased 2 percent when compared to the 575 filings in April 2017.
Total U.S. bankruptcy filings increased 5 percent in May 2017 over May of last year. Bankruptcy filings totaled 69,668 in May 2017, up from the May 2016 total of 66,138. The 66,096 consumer bankruptcy filings in May 2017 were also up 5 percent over the May 2016 consumer total of 62,726.
Total bankruptcy filings for the month of May increased 3 percent when compared to the 67,723 total filings recorded the previous month. Total noncommercial filings for May also represented a 3 percent increase from the April 2017 noncommercial filing total of 64,372.
The average nationwide per capita bankruptcy filing rate in May was 2.57 (total filings per 1,000 per population), a slight increase from the 2.54 filing rate during the first four months of the year. Average total filings per day in May 2017 were 3,167, a 1 percent increase from the 3,149 total daily filings in May 2016.