The Legal Professional: US bankruptcies rise in 2009

Source: Credit and
(The Legal Professional)

Wednesday 10 March 2010

The USA lumps all kinds of insolvency proceedings under the single heading of “bankruptcy” and so its headline figures are misleading. But behind the headline figure – that there was a near-30% increase in 2009 as against 2008, there are some trends that indicate a deep malaise in the US economy – and signs that there’s still a long way to go before bad debt has returned to actuarially acceptable levels.

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