Commercial Chapter 11s Increase 7 Percent
Sunday, June 9, 2019
Total U.S. bankruptcy filings increased 2 percent in May 2019 over May of last year, according to data provided by American Bankruptcy Institute and Epiq Systems. Bankruptcy filings totaled 68,796 in May 2019, up from the May 2018 total of 67,346.
The 65,313 consumer bankruptcy filings in May 2019 were also up 2 percent over the May 2018 consumer total of 63,966. Total commercial filings increased 3 percent in May 2019, as the 3,483 filings were up from the 3,380 commercial filings registered in May 2018. Total commercial chapter 11 filings increased 7 percent to 478 in May 2019 from the May 2018 total of 448.
May’s commercial chapter 11 filing total represented an 8 percent increase from the April 2019 commercial chapter 11 filing total of 442. Total commercial filings in May increased slightly from the 3,468 filings in April 2019. Conversely, total bankruptcy filings for the month of May decreased 4 percent when compared to the 71,278 total filings recorded the previous month. Total noncommercial filings for May also represented a 4 percent decrease from the April 2019 noncommercial filing total of 67,810.
The average nationwide per capita bankruptcy filing rate in May was 2.53 (total filings per 1,000 per population), a slight increase from the 2.50 filing rate during the first four months of the year. Average total filings per day in May 2019 were 3,127, a 2 percent increase from the 3,061 total daily filings in May 2018.