Bankruptcies Forecast To Keep Rising

Law360, New York (August 22, 2007, 12:00 AM EDT) -- Business bankruptcy filings are expected to top 30,000 by the end of 2007 as the economy, driven down by rising energy prices and turmoil in the mortgage industry, continues to weaken.

Chief economist at credit insurer Euler Hermes ACI, Daniel North, said end-year figures for 2007 should show a 50% jump in bankruptcies on 2006, correcting what was last year's artificial, and one-off, slump.

The predicted rise, which will likely drag into next year, will return the numbers to “more normal levels,” North said, following the...
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