This Week
  • Wright Beverage Distributing has expanded again with an acquisition.

  • Employee Relations Associates has expanded services, reach.

  • Patience helped Joseph Morelle rise in the ranks to state Assembly majority leader.

  • Owners of nearby businesses welcome UR’s College Town development.

  • Shaina Sidoti's firm makes nutritious dishes that have helped her heal.

  • Area exporters starting 2014 with a sense of momentum.

Bankruptcy filings decline in November

Rochester Business Journal
December 3, 2013

Rochester-area bankruptcy filings took a double-digit percentage decline in November. The month’s 16.3 percent drop brought the decline in new bankruptcy filings through the year’s first 11 months to 7.4 percent.

In November, the federal Western District of New York’s Rochester division recorded 134 bankruptcy petitions, 26 fewer cases than the 160 filed a year ago. At 1,830 filings from January through November, area bankruptcies are 146 cases fewer than the 1,976 cases filed as of Nov. 30, 2012.

The courts’ Rochester division covers the counties of Monroe, Livingston, Ontario and Wayne along with Chemung, Schuyler, Seneca, Steuben and Yates.
    
Chapter 7 debtors seek to liquidate assets to create a fund to pay creditors amounts ranging from zero to all of what they owe.  Chapter 11 and Chapter 13 debtors file plans proposing to pay creditors all or part of amounts owed.

Chapter 11 petitioners are usually businesses seeking to reorganize under court protection.

Chapter 13 filers are most often consumer debtors proposing to pay debts in monthly installments over five years.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google