Business Bankruptcies Down 13 Percent Last Year

Law360, New York (August 5, 2011, 7:02 PM EDT) -- The Administrative Office of the U.S. Courts reported Friday that business bankruptcies had dropped 13 percent in the yearlong period ending June 30, amid an overall decline in both personal and business filings.

New bankruptcy filings by businesses fell to a total of 52,134, a decrease from the 59,608 that occurred in the same period ending June 30, 2010, according to the report.

Bankruptcy filings dropped 2.7 percent overall in the past year, largely thanks to a decline in personal bankruptcy petitions — the first decline...
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