Corporate Bankruptcies Tumble By Half In 2010: Report

Law360, New York (January 10, 2011, 5:18 PM EST) -- Chapter 7 and Chapter 11 bankruptcy filings by public companies fell by more than half in 2010 compared to 2009, with financial and banking companies making up nine of the year's 10 largest bankruptcies, according to information released Monday by BankruptcyData.com.

The research website also reported that the combined total assets for companies entering bankruptcy fell from $594 billion in 2009 to $89 billion in 2010.

BankruptcyData said the decreased total asset figure was especially striking because of the high number of financial filings, which could...
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