While federal bankruptcy filings nationwide increased significantly in the past 12 months, the District of New Jersey saw an even bigger uptick, according to a report from U.S. court administrators.
But the increased number of filings has not necessarily meant more Chapter 11 work for the bankruptcy bar because many struggling businesses are closing up rather than restructuring, attorneys say. At the same time, though, there’s a higher demand than ever for legal counsel handling personal bankruptcies.
