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February 2021 filings up slightly

By | March 24, 2021 | Bankruptcy Data | No comments

Filings went up slightly in February 2021 from January.  The increase was about 10%.

2021 2020 2019 2018 2017 2016 2015 2014
Jan 1,783 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 1,957 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 2,210 3,355 3,259 3,170 3,235 3,751 4,554
Nov 1,730 2,636 2,821 3,004 3,025 3,531 3,642
Dec 1,665 2,723 2,419 2,416 2,902 2,718 3,733
Total  3,740 26,895 37,117 35,961 37,262 39,819 44,880 55,445

Total filings for January and February together are still 34% lower than the same two months last year.

Filings by chapter in the Central District of California year to date (two months) are:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
3,344 396 3,319 365 56
89% 11% 89% 10% 1%

Small business bankruptcies increased debt ceiling sunsets on March 27, 2021

By | February 26, 2021 | Bankruptcy Data, Chapter 11 | No comments

The SBRA debt limit was $2.7 million, of which 50% had to be business debt.  The CARES Act, which became effective March 27, 2020, increased the debt ceiling to $7.5 million.   That increase will terminate on March 27, 2021 unless Congress takes further action, which most of us are assuming will happen.  But it may not.  Eligible small business debtors should promptly consider whether to take advantage of Subchapter V before the CARES Act modifications expire and the eligibility debt ceiling returns to $2.7 million. Unless the March 27, 2021 deadline is extended by Congress, we expect a sharp increase of Chapter 11 filings under Subchapter V at the end of 2020 through Q1 2021.

Chapter 11 filings in the Central District

By | February 19, 2021 | Bankruptcy Data | No comments

Notwithstanding the low number of bankruptcy cases filed in January 2021 in the Central District, there were 22 chapter 11s which I think is pretty normal.  Of those, 9 were sub V small business cases.

January 2021 filings – ugh!

By | February 19, 2021 | Bankruptcy Data | No comments

Total filings in the Central District of California for January 2021 were a whopping 37% less than January of last year.

2021 2020 2019 2018 2017 2016 2015 2014
Jan 1,783 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 2,210 3,355 3,259 3,170 3,235 3,751 4,554
Nov 1,730 2,636 2,821 3,004 3,025 3,531 3,642
Dec 1,665 2,723 2,419 2,416 2,902 2,718 3,733
Total 26,895 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
1,599 184 1,597 164 22
6% 1% 6% 1% 0%

Talk about slow?  Vermont had 18 cases in total in January.  Alaska 19, Montana 38.  New York had 1,194 in the whole state.  Texas 1,429 in the whole state.

December filings, pretty low again

By | January 20, 2021 | Bankruptcy Data | No comments

There were a total of 1,665 bankruptcy petitions filed in the Central District of California in December 2020.  That is the lowest month of 2020.  Total filings for the year are 26,895 or 28% fewer than last year.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 2,210 3,355 3,259 3,170 3,235 3,751 4,554
Nov 1,730 2,636 2,821 3,004 3,025 3,531 3,642
Dec 1,665 2,723 2,419 2,416 2,902 2,718 3,733
Total 26,895 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter for the year were

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
24,451 2,449 23,072 3,525 299
91% 9% 86% 13% 1%

It’s not only slow here:  Texas had 1,789 – that is the total for the four Texas districts!  So the whole state of Texas.  New York had a total of 1,365 – again for all four districts!  The whole state of New York.  More?  The state of Washington – 552 cases in December.  Alaska you ask?  36 cases in December – 313 cases the whole year!  You get the idea.  Filings are slow.

Chapter 11 filings in December 2020 – 14 total.

By | January 18, 2021 | Bankruptcy Data | No comments

There were 18 chapter 11 petitions filed in the Central District of California in December 2020.  Five of those appear to be related, and will be jointly administered – so the total is really 14.  Of the 14, five were “subchapter V, small business” cases.  One case is SFV, two Santa Ana, one SB and one Riverside.   The “big one,” i.e., five filings, Airport Van Rental, Inc., was filed by Zev Shechtman and John Tedford, assigned to Judge Sheri Bluebond.

November filings in Central District drop 22% from last month and 35% from last year.

By | December 13, 2020 | Bankruptcy Data | No comments

November filings dropped to 1,730 compared to 2,210 in October, or 22% fewer filings than last month.  The filings were lower than November a year ago by 35%.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 2,210 3,355 3,259 3,170 3,235 3,751 4,554
Nov 1,730 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 25,230 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter for the 11 months this year.

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
22,960 2,274 21,566 3,384 280
91% 9% 85% 13% 1%

 

Chapter 11 filings in the Central District of California – October 2020

By | December 1, 2020 | Bankruptcy Data | No comments

There were 17 chapter 11s filed in the cacb in October 2020.  Of those, 9 elected to be treated as a Sub V small business case.  By division, SFV 4; LA 6; Riverside 4; Santa Ana 3, SB 0.

October 2020 filings flat again

By | November 10, 2020 | Bankruptcy Data | No comments

We had 41 more petitions filed in October than in September and more than 1,100 or  34% fewer than October a year ago.  If we figure 2,500 filings each in November and December, we are looking at a total of 28,500 for 2020 or 22% fewer than last year.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 2,210 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 23,500 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter year to date:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
21,390 2,114 20,012 3,225 263
91% 9% 85% 14% 1%

 

September filings flat again

By | October 9, 2020 | Bankruptcy Data | No comments

September bankruptcy filings in the Central District of California were slightly less than last month, but 26% less than last year.   Third lowest total this year.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 2,080 3,347 3,226 3,384 3,484 3,971 5,500
June 2,257 2,967 2,981 3,252 3,545 3,966 4,386
July 2,415 3,270 3,057 2,953 3,239 3,731 4,701
Aug 2,355 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,169 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 21,290 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter for the full year 2020:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
19,377 1,917 18,017 3,029 244
91% 9% 85% 14% 1%
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