12/04/00
U.S. Court's Administrative Office Releases Bankruptcy Statistics
The Administrative Office of the U.S. Courts recently released its statistics regarding bankruptcy filings for the 2000 fiscal year (ending September 30, 2000). Filings were down 6.8% for personal filings and 6.6% for business filings. There were 1,226,037 personal filings last year, and 36,065 business filings.
Notwithstanding this decline, between 1994 and 1998 bankruptcy filings experienced a 72% increase. Chapter 7 filings still amount for the largest chunk of all filings, despite a 9.2% drop, with 870,805 being filed during FY2000. The second largest is Chapter 13 filings, falling 1.1%, to 380,880, with Chapter 11 filings increasing 9.9% from 8,982 in 1999 to 9,835 in 2000. The central district of California saw the largest number of bankruptcy filings during FY2000, 85,728. The second highest was the northern district of Illinois, with 43,068.
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TMA is committed to providing the most recent legislative actions affecting the corporate renewal industry. The following updates are provided by TMA's Legislative Consultant, David P. Goch, of Webster, Chamberlain & Bean in Washington, DC. Please contact David at dgoch@wc-b.com or (202) 785-9500 for more information or specific questions about the legislative information provided below.