Bankruptcies down 2.3% year-over-year in Jan., with Ch. 13 leading
A total of 496 bankruptcy cases were at the U.S. Bankruptcy Court in Puerto Rico during the month of January, representing a 2.3% drop from the same month last year, according to statistics released by analyst firm Boletín de Puerto Rico.
The report shows that Chapter 13 personal reorganization cases prevailed, with 303 cases on file for January filed under that category. A year-over-year comparison shows that Chapter 13 cases were up 5.2%.
Meanwhile, Chapter 7 total liquidation cases reached 189 for the month, representing a 7.4% year-over-year drop, the report shows.
Next came Chapter 11 reorganization filings, with 4 cases on record in January, which is down 69.2% when compared to January 2019.
In the last category, Chapter 12 — a category reserved for agricultural businesses — there were no cases filed in January.