Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

The Bankruptcy StrategistFeaturesKickerLJN NewslettersNewsSections

Business Filings Fall in Fiscal Year 2015 for Sixth Consecutive Year

By ALM Staff | Law Journal Newsletters |

The Administrative Office of the U.S. Courts has reported that bankruptcy cases filings in the federal courts have fallen by nearly 11% overall for the fiscal year 2015 ' the 12-month period ending Sept. 30, 2015. For FY 2015 there were a total of 860,182 petitions filed compared with 963,739 bankruptcy filings in FY 2014. This is the lowest number of bankruptcy filings for any 12-month period since 2007, and the fifth consecutive fiscal year filings have fallen.

Of greater concern to business bankruptcy practitioners is that business filings are down 12% for this fiscal year. There were 24,985 business cases filed in FY 2015 compared with 28,319 the year before. While commercial bankruptcy counsel are accustomed to the cyclical nature of their practice, this acknowledgment is cold comfort to the reality that the total number of business filings over the past two years combined is less than the single year highs of 58,651 and 58,322 business filings recorded in FY 2009 and FY 2010, respectively. It should also be noted, however, that in FY 2007, the year before the global recession, business filings stood at 25,925, only slightly less than the 24,985 cases filed for FY 2015.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs Image

A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.

Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Blockchain Domains: New Developments for Brand Owners Image

Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.

Coverage Issues Stemming from Dry Cleaner Contamination Suits Image

In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.