Nationwide bankruptcy filings reached their highest levels of the last five years between April and June, according to government data released last Wednesday. This represented an increase of 11 percent from the same time period in 2009.
422,061 bankruptcy filings were reported during that time period this year as opposed to 381,073 during the same time frame in 2009. Filings between January and March of this year numbered 388,148.
Quarterly filings have not exceeded 400,000 since a record 667,431 were filed in the fourth quarter of 2005.
Consumer bankruptcies jumped 21 percent, to 1.51 million, from the same time last year.
If you find yourself in this unfortunate position, contact the New Orleans Chapter 7 bankruptcy lawyers of The Law Offices of the Law Office of David D. Kervin, Jr., LLC at 504-599-5906 as soon as possible to discuss your financial options.
The Texas Rangers officially exited Chapter 11 bankruptcy last Thursday after former Ranger and Hall of Fame pitcher Nolan Ryan won the auction to purchase the team.
The team’s auction lasted for eight hours between Ryan and Dallas Mavericks owner Mark Cuban. The winning bid was $590 million. U.S. Bankruptcy Judge Stacey Jernigan approved the sale and exit from bankruptcy later in the day Thursday. The MLB also approved Ryan and sports attorney Chuck Greenburg as owners this week.
In reference to the new owners, former owner Tom Hicks stated, “You have to admire their endurance, dedication and commitment over the last 15 months to get this transaction complete”.
If you or someone you know is considering filing for Chapter 11 bankruptcy protection, contact the New Orleans Chapter 11 bankruptcy lawyers of The Law Offices of the Law Office of David D. Kervin, Jr., LLC at 504-599-5906 to learn more about your rights.
A discount food organization, Food Share America, has distributed its last set of groceries, leaving people in 10 states in a bind.
The food ministry service has filed for Chapter 11 bankruptcy after seeing no other choice because they could no longer survive by floating on credit. The president of the organization said that the company had more than $100,000 in bounced checks.
The organization serves people in Louisiana, Missouri, Nebraska, Oklahoma, Texas, Wyoming, South Dakota, and more. FSA took over the discount ministries from Catholic church nearly two years.
If your business is going through a troubling time and you have any questions on the issue, contact the New Orleans chapter 11 bankruptcy lawyers of the law office of the Law Office of David D. Kervin, Jr. LLC by calling 504-599-5906 today.