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There were 666 commercial Chapter 11 bankruptcy filings made in the United States in July, a 27 percent drop from a year ago, according to the American Bankruptcy Institute (ABI).
Chapter 11 bankruptcy allows a business to reorganize its debts so it can continue operating and eventually become solvent. In addition to a decline in Chapter 11 filings, overall commercial bankruptcy filings declined in July, falling by 8 percent year over year, ABI said in an Aug. 6 statement.
The decline in July’s commercial filings followed improved economic conditions in June. The 12-month inflation rate declined in June from the previous month after surging for three consecutive months….
Chapter 11 bankruptcy allows a business to reorganize its debts so it can continue operating and eventually become solvent. In addition to a decline in Chapter 11 filings, overall commercial bankruptcy filings declined in July, falling by 8 percent year over year, ABI said in an Aug. 6 statement.
The decline in July’s commercial filings followed improved economic conditions in June. The 12-month inflation rate declined in June from the previous month after surging for three consecutive months….
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