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Area bankruptcy filings rise in September

Rochester Business Journal
October 2, 2013

Rochester-area bankruptcy filings were up 16.4 percent last month.

In September, the Western District of New York Bankruptcy Court Clerk recorded 156 new filings in the districts’ nine county Rochester division. The 2013 filings compare to 134 new cases filed in the same month last year.

The region’s September filings included 106 Chapter 7 petitions, 48 Chapter 13 cases and two Chapter 11s.

Chapter 7 petitioners seek to liquidate assets to pay creditors amounts ranging from zero to 100 percent of what they are owed. Chapter 13 debtors file plans to partly or fully pay creditors in monthly installments without liquidating. Chapter 11 filers—usually but not always businesses seeking to reorganize under court protection—also file plans to fully or partly pay off creditors.

The September jump leaves the 1,557 area bankruptcy filings recorded so far this year still 5.9 percent less than the 1,654 new cases filed in the federal courts’ Rochester division during the first nine months of 2012.

The courts’ Rochester division spans the counties of Monroe, Ontario, Livingston, Wayne, Seneca, Yates, Steuben, Schuyler and Chemung. 
    
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


 


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