The foreign investors who’ve helped juice the state’s economy are particularly wary of what could happen if their investments go belly up.
March 03, 2023 at 03:49 PM
5 minute read
From January 2022 to January of this year, across all categories, bankruptcy filings are up by 19% across the country. And yet, while lawyers in both categories are finding themselves answering more questions, they’ve yet to witness a large surge, as the volume of filings lags behind pre-pandemic levels.
“From what was reported in January 2022 to January 2023, there’s been a 70% increase in Chapter 11 filings,” said Craig Rasile, a bankruptcy attorney at Winston & Strawn’s Miami office, emphasizing the tally is still muted compared to pre-2020 levels. “Prior to the pandemic, these would be paltry numbers. The numbers were much larger, they were filing 12 to 1,500 major Chapter 11 a year around the country and here we are under 300.”
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