Credit: Kenishirotie/Adobe Stock US Bankruptcy Filings Rise 16.2% as Interest Rates, Inflation, End of COVID Relief Hit Hard
"Two of the biggest factors—inflation and rising interest rates—are unlikely to shift rapidly, even if the new administration tries to address them," said Scott A. Underwood, a founding partner at Underwood Murray.
November 07, 2024 at 07:38 PM
3 minute read
The original version of this story was published on Daily Business Review
Personal and business bankruptcy filings rose 16.2% in the 12-month period that ended Sept. 30, compared with the previous year, the Administrative Office of the U.S. Courts stated Thursday.
The U.S. Courts registered more than 504,100 bankruptcy filings in the year that ended with September, compared with less than 433,650 cases in the previous 12 months. Business filings rose 33.5%, from about 17,050 to over 22,760 in 2024. And non-business bankruptcy filings rose 15.5% to 481,350, compared with less than 416,610 last year.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Topping Kirkland, Weil Won the Most Valuable Major Bankruptcy Retentions of 2024
9th Circuit Judge Highlights Circuit Split on Federal Preemption Question in Bankruptcy
Kirkland Is Increasingly Turning to NJ for Huge Chapter 11 Bankruptcies. Will Other Big Law Follow?
Trending Stories
- 1‘Catholic Charities v. Wisconsin Labor and Industry Review Commission’: Another Consequence of 'Hobby Lobby'?
- 2With DEI Rollbacks, Employment Lawyers See Potential For Targeting Corporate Commitment to Equality
- 3In-House Legal Network The L Suite Acquires Legal E-Learning Platform Luminate+
- 4In Police Shooting Case, Kavanaugh Bleeds Blue and Jackson ‘Very Very Confused’
- 5Trump RTO Mandates Won’t Disrupt Big Law Policies—But Client Expectations Might
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
