U.S. commercial bankruptcy attorneys are certainly busy today, but are about to get even busier. Despite some recent positive data, there are signs that commercial chapters 11 and 7 filings are likely to accelerate — oddly enough — even as the economy appears to improve.
According to the Administrative Office of the U.S. Courts, which tracks federal court filings of all types, Chapter 11 business filings increased by a whopping 91% nationwide during the 12 months that ended on June 30, compared to the same period the year before. Likewise, business filings during the second quarter of 2009 reached the highest level nationally since the second quarter of 1993.
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