2009 Brings Explosion In Corporate Bankruptcies

Law360, New York (February 20, 2009, 12:00 AM EST) -- Amid the economic crisis, corporate bankruptcies are already on the upswing in 2009. U.S. bankruptcy courts have seen more than twice the number of bankruptcies this year compared with the same period last year.

According to statistics released by BankruptcyData.com, through Friday there have been a total of 33 Chapter 11 and Chapter 7 filings so far this year, compared with 14 of those types of bankruptcy filings last year, and 11 in 2007.

The data also shows a sharp rise in the size of companies...
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