COVID-19 Related Bankruptcy Statistics

Bankruptcy Statistics

Weekly Filings
October 4-10, 2021
Type of Case	Filings	Percent Change From Same Week in 2020	Percent Change From Same Week in 2019
Total	6,713	-16.8%	-50.8%
Ch. 7	4,099	-27.7%	-50.5%
Ch. 11	70	N/A*	N/A*
Ch. 13	2,535	14.0%	-51.8%
Other**	9	-55.0%	-47.1%

* Data on chapter 11 filings in prior years comes from the Integrated Data Base published by the Federal Judicial Center. This information is temporarily unavailable.

**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.