| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for General 2004 > News item |
Chapter 11 filings decline in 2003, says Administrative Office of U.S. Courts
By Jeff Pines
Washington, Feb. 26 - If fewer Chapter 11 bankruptcies indicate an improving economic trend, then there is another sign the economy is on the mend. Last year was the first time since 2000 that Chapter 11 business filings dropped below 10,000 per year.
According to figures released by the Administrative Office of U.S. Courts, the total number of Chapter 11 business filings for 2003 were 8,474 compared with 10,286 in 2002, or about an 18% drop. In 2001, there were 10,641 Chapter 11 business filings.
Businesses filing for Chapter 7, or liquidations, also declined somewhat, coming in at 20,631, down from 22,321 in 2002 and 23,482 in 2001. In 2000, there were 9,197 Chapter 11 business filings.
Total filings for bankruptcy, however, continue to rise with a total of 1.66 million for 2003 compared with 1.58 million for 2002, 1.49 million for 2001 and 1.25 million in 2000.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.