Kentucky Bankruptcy Filings Did Not Follow National Trend
07/12/10
While the filing of bankruptcies in the Western District of Kentucky remained strong, they do not evidence the surge that has been seen nationally. The American Bankruptcy Institute recently reported that bankruptcy filings for the first half of 2010 increased 14% over the prior year, including an 8 1/2 percent jump in the month of June as compared to the same month in 2009.
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While the filing of bankruptcies in the Western District of Kentucky remained strong, they do not evidence the surge that has been seen nationally. The American Bankruptcy Institute recently reported that bankruptcy filings for the first half of 2010 increased 14% over the prior year, including an 8 1/2 percent jump in the month of June as compared to the same month in 2009.
The Kentucky bankruptcy filings have seen only a small increase, from 6355 filings through June 30, 2009 to 6556 filings through June 30, 2010. The Western District did not see the same spike in filings in June as was seen nationally. To date, the monthly filings have been as follows:
January - 903
February - 1152
March - 1342
April - 1111
May - 1030
June - 1018
Likewise, there have not been as many filings of Chapter 11 reorganization proceedings as may have been expected. In 2009, the Western District saw 60 Chapter 11 cases filed. Through June 30, 2010, there have only been 14 cases filed.
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