Bankruptcies Drop To Ten-Year Low

Law360, New York (March 15, 2007, 12:00 AM EDT) -- The number of filings in U.S. bankruptcy courts last year was the lowest it has been in a decade, according to figures compiled by the Administrative Office of the U.S. Courts.

Statistics for the 2006 fiscal year, beginning Oct. 1, 2005 and ending Sept. 30, 2006, show the total number of filings fell by almost 40% to 1,112,542—the lowest since 1996.

Of these, 630,228, or 57%, were filed in the first month of the fiscal year, and almost all of them in the first half of...
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