June '08 Business Bankruptcies Dwarf '07 Numbers

Law360, New York (July 9, 2008, 12:00 AM EDT) -- Statistics confirm what many veteran commercial bankruptcy watchers have probably guessed: the number of filings in June 2008 far outstrips June 2007's figure.

Last month 4,992 businesses entered bankruptcy, compared with 3,408 in June 2007 and 2,574 in June 2006, according to Automated Access to Court Electronic Records (AACER), a bankruptcy data and management company that collects and organizes bankruptcy data using federal dockets.

On the other hand, June 2008 was also the first month since December that commercial bankruptcy filings were not higher than the...
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