Bankruptcy Filings Drop In 2012, But Attys See More Ahead

Law360, New York (November 8, 2012, 7:56 PM EST) -- Federal bankruptcy filings fell sharply in 2012 for the third straight year, but attorneys warn the trend may be short-lived, as a looming showdown in Congress over the fiscal cliff and other factors lay the groundwork for a new wave of cases.

In the fiscal year that ended Sept. 30, there were about 1.2 million bankruptcy filings in federal courts, marking a decline of 14 percent from last year, according to data released Wednesday by the Administrative Office of the U.S. Courts. Chapter 11 cases fell...
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