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Bankruptcy filings again decline in the region

Rochester Business Journal
December 3, 2012

An unbroken slide of more than a year in the region’s bankruptcy filings continued in November.

In November, bankruptcies filed in the federal Western District of New York’s nine-county Rochester division fell to 160, showing an 18 percent decline from the 196 petitions filed in the region in November 2011. Area filings in the first 11 months of 2012 showed a 14 percent drop, falling from 2,301 in 2011 to 1,976.

The division’s November filings included 120 Chapter 7 cases, 39 Chapter 13 cases and one Chapter 11. Chapter 7 filers seek to discharge debts by liquidating assets and using the proceeds to fully or partly pay off creditors. Chapter 11 and Chapter 13 petitioners seek creditors’ permission to fully or partly pay debts without liquidating.  

Counties included in the federal Rochester division are: Monroe, Livingston, Ontario and Wayne. It also includes Chemung, Schuyler, Seneca, Steuben and Yates counties.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


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