'Recovery' Looks A Lot Like Recession

Law360, New York (December 7, 2011, 1:07 PM EST) -- Despite almost daily media references to an economic recovery, whether jobless or otherwise, conditions on the ground remain very difficult. In fiscal year 2010, cases filed under the U.S. Bankruptcy Code were up 14 percent over filings in fiscal 2009. While the pace of filings was down 8 percent in the first half of 2011 compared to the same period last year, the number of filings remains high. Individuals, especially, continue to consider bankruptcy as an answer to mounting debt in the face of record unemployment....

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