Bob Casey United States Courthouse, Southern District of Texas Bankruptcy Court at 515 Rusk St, Houston, Texas 77002. Credit: Google street view Subchapter V Bankruptcy Filings Keep Rising as States Beyond Florida Get on Board
"It has taken some education or orientation by the bankruptcy legal community to see the value of it, but it caught on fast," said Soneet Kapila, president of the American Bankruptcy Institute.
February 05, 2024 at 11:23 AM
3 minute read
The original version of this story was published on Daily Business Review
What You Need to Know
- Subchapter V bankruptcy filings are continuing to increase in popularity.
- Although Florida remains a leader in the volume of filings, other states began seeing sharp increases last year.
- With the tool's debt limit still set to sunset in June, people in the industry are hoping Congress makes the current limit permanent.
The Subchapter V bankruptcy option saw a sharp increase in filings in 2023, and as other states join Florida with a significant number of these matters, awareness is clearly growing in the bankruptcy bar.
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