Although business bankruptcies are down in Texas, commercial bankruptcy lawyers say their workload hasn't decreased — it's just changed. "My hope is that things will be more orderly now," says Sylvia Mayer, a partner in Weil, Gotshal & Manges. When you have filings that are on an emergency basis, nobody is better off. It's better for the entire constituency if you have thoughtful filings with an exit strategy."
July 18, 2011 at 12:00 AM
1 minute read
Although business bankruptcies are down in Texas, commercial bankruptcy lawyers say their workload hasn’t decreased — it’s just changed.
Consumer bankruptcy filings in bankruptcy courts in Texas rose 5 percent last year, from 55,435 in 2009 to 58,239 in 2010, according to the Administrative Office of the U.S. Courts. But the number of business bankruptcy filings dropped 10 percent last year, from 4,567 in 2009 to 4,109 in 2010. [See "U.S. Bankruptcy Court Filings in Texas." ]
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