Bankruptcy Statistics
| Weekly Filings | |||
| May 9-15, 2022 | |||
| Type of Case |
Number Filed |
Percent Change From Same Week in 2021 | Percent Change From Same Week in 2020 |
| Total | 7,032 | -14.0% | -25.5% |
| Ch. 7 | 4,166 | -31.9% | -42.8% |
| Ch. 11 | 142 | 118.5% | -24.5% |
| Ch. 13 | 2,722 | 37.0% | 39.8% |
| Other* | 2 | -71.4% | -90.5% |
*Ch. 9, 12,15
Weekly filing data compiled from PACER and is subject to slight revisions.
For exclusive analysis and insight by ABI's Ed Flynn on the weekly filings, please click here.
For past reports, please click here.
Member Analysis
- A New Challenge for Debtors Who Received PPP Loans Under the CARES Act
Can lenders refuse to forgive PPP loans when small businesses have filed for bankruptcy?
- Update on the Proposed Extension of the PPP Loan Program - Gotta Read That Fine Print!
On October 1, 2020, Senators Rubio and Collins reintroduced a different version of the Initial Proposed PPP III Legislation, S. 4773 (the “Amended PPP III Legislation”).
- Proposed Extension of the PPP Loan Program: A Nice First Step….
Whether Congress extends the PPP Loan Program is up in the air, but questions remain about whether the proposed legislation is the right approach.
- This DIP Loan Brought to You by Someone Who CARES - Part Two 1/2
Let’s be candid: $659 billion just doesn’t go as far as it used to. In just two short weeks, the entire $349 billion allocation for small business loans under the landmark CARES Act Payroll Protection Program (PPP), part of the single-largest government stimulus package in history, was completely exhausted by the onslaught of distressed businesses (the “PPP I Loans”).
- $659 Billion Disbursed Without Underwriting, Collateral or Guarantees: What Could Possibly Go Wrong?
The already notorious Paycheck Protection Program (PPP)is part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). $349 billion of PPP funding became available on Friday, April 3, and less than two weeks later all $349 billion was disbursed or committed to being disbursed. Congress then passed legislation adding $310 billion of PPP funding.
- This DIP Loan Brought to You by Someone Who CARES - Part II.
As PPP "Part II" loans are anticipated to be exhausted in 72 hours by small businesses struggling during the financial distress of the COVID-19 pandemic, will there be a "Part III, IV and V" on the horizon for the program? Read Stinson LLP's Tom Salerno provides his take in "This DIP Loan Should Be Brought to You by Someone Who CARES," Part Two.
- Title: 8 Predictions of the Coronavirus' Impact on the Bankruptcy World
Thomas J. Salerno of Stinson, LLP (Phoenix) and G. Neil Elsey of Avion Holdings, LLC (Scottsdale, Ariz.). proffer eight predictions as to how COVID-19 will alter the restructuring landscape in both the near term (and possibly longer).
- COVID-19: Rethinking Chapter 11 Bankruptcy Valuation Issues in the Crisis
Written by: Wilmer Hale
ABI members: Benjamin Loveland, George Shuster, Jr. - This DIP Loan Brought To You By Someone Who CARES!
According to a special ABI commentary by Thomas J. Salerno, Gerald Weidner, Christopher Simpson and Susan Ebner of Stinson, there could be another substantial implication of the CARES Act for the brave new bankruptcy world: a new potential source of DIP financing.
Two Years After Filing for Bankruptcy, Century 21 Will Reopen Its NYC Flagship Store Next Year
Century 21 is making a comeback as the New York City-based off-price retailer said that it will be reopening its longtime Cortlandt Street flagship store in downtown Manhattan…
U.S. Retail Sales Increase Strongly in April
U.S. retail sales increased strongly in April as consumers bought motor vehicles amid an improvement in supply and frequented restaurants, providing a powerful boost to the…
Just 8% of Manhattan Office Workers Are Back Full Time, Survey Shows
The best-laid plans for a full-time return to the office remain bedeviled by COVID-19 case rates and a workforce reluctant to go back to their commutes, according to data…
Fed Warns of Worsening Market Liquidity in Stability Report
The Federal Reserve warned of deteriorating liquidity conditions across key financial markets amid rising risks from the war in Ukraine, monetary tightening and high inflation…
Millions Retired Early During the Pandemic. Many Are Now Returning to Work, New Data Shows.
Millions of older Americans stopped working during the pandemic, far more than usual, stoking fears that the workforce had been permanently altered, but the country is close…
U.S. April Payrolls Rise More Than Expected, Wage Increases Cool
U.S. job growth increased more than expected in April, underscoring the economy's strong fundamentals despite a contraction in gross domestic product in the first quarter,…
Major Aircraft Lessor SMBC Warns Airlines of Growing Costs
Airlines face a slew of growing costs in the coming year including higher insurance, fuel, labour and lease rates, the chief executive of major aircraft lessor SMBC Aviation…
Manufacturers Could Soon Face Demand Woes on Top of Supply-Chain Snarls
Supply-chain problems are a bear, but they are better than the alternative of waning demand. The worry for some manufacturers has to be that the latter might become a live…
U.S. Consumers Boosted Spending in March
Consumers spent more in March, showing American households are absorbing high inflation and are positioned to propel the economy heading into the spring and summer, the Wall…
Loss of Pandemic Aid Stresses Hospitals That Treat the Uninsured
Billions of dollars in aid not only guaranteed that uninsured Covid patients would not face medical bills during the pandemic but also offered a lifeline for financially…