All posts in Bankruptcy Data

Central District bankruptcy filings plummet in April 2020

Petitions filed in the Central District fell by 56% vs last April and by 39% vs last month.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 1,669 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 10,014 37,117 35,961 37,262 39,819 44,880 55,445

Filings by category year to date is:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
9,128 889 8,009 1,899 107
91% 9% 80% 19% 1%

Some interesting stuff in this month’s statistics.  The entire state of New York (four districts) had 1,201 filings.  The southern district of New York has 304 chapter 11s so far this year compared to our 107.

The entire state of Texas (four districts) had 1,840 total filings in April.  The southern district of Texas has had 384 chapter 11s so far this year.

The eastern district of Virginia had 943 total filings in April and only 26 chapter 11s this whole year and yet that is where J. Crew just filed.

Delaware has had 1,038 total filings this year of which 388 of those were chapter 11.  The state has had 424 chapter 7s and 221 chapter 13s this year.

Bankruptcy filings fall slightly in March, 2020

Total bankruptcy filings in the central district fell slightly in March, compared to February.  March typically sees a jump from February.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 2,736 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 8,345 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter cumulatively so far this year is:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
7,603 744 6,524 1,725 96
91% 9% 78% 21% 1%

ethteh

$608.34 for Fee Apps for Opposed Motions for Relief – thumbs down.

How much should you request in your fee application?  Judge Johnson, in a lengthy and researched opinion here, spent considerable time reviewing 168 fee applications to come up with a standard.

  • $140.69 for unopposed motions (i.e. car lender files MFR to sell vehicle in its possession).
  • $442.50 for limited/no opposition in fraudulently hijacked cases where debtor got partial interest (debtor has no interest in defeating the motion since the property is not theirs).
  • $608.34 for opposed motions for relief (requires opposition and appearance).

Fee applications require counsel to demonstrate why their fees are reasonable in light of the customary and standard practice of the consumer bar.  Confirms my position to never file a case in Riverside.

Stay safe and hope everyone is doing well.

Sevan Gorginian, Esq.

Bankruptcy filings from years past

I found an old chart I made several years ago.  Central District total petitions filed by month.l  My how times have changed.

Central District of California
2008 2009 2010 2011
Jan 3,694 6,004 9,013 10,868
Feb 3,787 6,971 9,659 10,631
March 4,381 8,529 12,840 13,543
April 5,023 8,512 12,114 12,087
May 5,177 8,967 11,906 11,669
June 5,351 9,595 12,190 11,718
July 5,983 9,894 12,737 10,418
Aug 6,195 9,748 12,720 11,496
Sept 6,290 9,214 12,412 10,006
Oct 6,364 10,322 11,753 9,887
Nov 6,029 9,462 10,900 9,099
Dec 6,615 9,864 10,925 9,089
64,889 107,082 139,169 130,511

Bankruptcy filings in the Central District in February 2020

Filings in February compared to last three months and compared to Feb in last three years are all within couple % of each other.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,781 2,754 2,708 2,795 3,299 3,829 4,574
March 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 5,609 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter year to date:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
5,110 501 4,285 1,256 69
91% 9% 76% 22% 1%

“Commercial” I believe means a corporate type entity.  That means there have been more than 400 corporate chapter 7s.  I’m always surprised there are any much less that many.

Bankruptcy filings up slightly in January 2020

Total bankruptcy filings in the Central District of California in January.

2020 2019 2018 2017 2016 2015 2014
Jan 2,828 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,754 2,708 2,795 3,299 3,829 4,574
March 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 2,828 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter in January 2020.

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
2,581 247 2,125 671 32
91% 9% 75% 24% 1%

Highest district in the country?  Northern District of Illinois, i.e., Chicago with 3,195 of which 1,259 were chapter 13s and 13 were chapter 11s.  Next after us is Northern District of Georgia with 2,568 – of that 1,316 were chapter 13s, twice as many as us.  Lowest filings in January?  Wyoming with 34 (total filings) and Alaska with 38.

Bankruptcy filings up for the year 2019 Central District of California (a little)

Total filings in December were slightly higher than the previous two years.  Total filings for 2019 were up about 3% over 2018 and virtually the same as 2017.

2019 2018 2017 2016 2015 2014
Jan 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,754 2,708 2,795 3,299 3,829 4,574
March 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,723 2,419 2,416 2,902 2,718 3,733
Total 37,117 35,961 37,262 39,819 44,880 55,445

Filings by chapter for 2019:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
33,880 3,053 28,880 7,690 362
91% 8% 78% 21% 1%

Filings by chapter for 2018:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
33,003 2,967 27,608 7,947 412
89% 8% 74% 21% 1%

 

Bankruptcy filings fall a little in November 2019

Bankruptcy filings in the Central District of California dropped a little from last month and last year.

2019 2018 2017 2016 2015 2014
Jan 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,754 2,708 2,795 3,299 3,829 4,574
March 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,636 2,821 3,004 3,025 3,531 3,642
Dec 2,419 2,416 2,902 2,718 3,733
Total 34,394 35,961 37,262 39,819 44,880 55,445

Filings by chapter for the year:

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
31,385 2,822 26,785 7,081 340
91% 8% 78% 21% 1%

Bankruptcy filings in the Central District slowly continue upward

The numbers and the increases are small in real terms but October 2019 had the highest number of petitions in October since 2015.

2019 2018 2017 2016 2015 2014
Jan 2,745 2,741 2,839 2,872 3,364 4,704
Feb 2,754 2,708 2,795 3,299 3,829 4,574
March 3,481 3,363 3,782 3,923 4,496 5,430
April 3,631 3,277 3,209 3,584 4,486 5,364
May 3,347 3,226 3,384 3,484 3,971 5,500
June 2,967 2,981 3,252 3,545 3,966 4,386
July 3,270 3,057 2,953 3,239 3,731 4,701
Aug 3,274 3,337 3,387 3,543 3,544 4,540
Sept 2,934 2,772 3,071 3,168 3,493 4,317
Oct 3,355 3,259 3,170 3,235 3,751 4,554
Nov 2,821 3,004 3,025 3,531 3,642
Dec 2,419 2,416 2,902 2,718 3,733
Total 31,758 35,961 37,262 39,819 44,880 55,445

Here is the breakdown for the year by chapter.

Non-Comm’l Commercial Chapter 7 Chapter 13 Chapter 11
28,954 2,617 24,724 6,537 310
91% 8% 78% 21% 1%

 

New Median Income numbers starting November 1, 2019

For household size of 1, 2, 3 and 4

CALIFORNIA $59,286 $77,860 $86,665 $99,512