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Researh Sevice
United States Bankruptcy Courts: Recent
Caseload Statistics
July 15,2020
This Insight provides information and statistics related to filings in the United States bankruptcy court:
for the 12-month period ending March 31, 2020 (this is the most recent 12-month period for which data
are available). This Insight provides information and data analysis related to judicial caseload statistics,
but does not provide legal analysis.
Number of Filings
For the 12-month period ending March 31, 2020, the overall number of bankruptcy filings fell by 1.10%
compared to the 12-month period ending March 31, 2019-declining from 772,646 to 764,282. Business
bankruptcy filings, however, increased during the 12-month period ending March 31, 2020, while
nonbusiness bankruptcy filings declined (both types of filings are discussed below). Because nonbusiness
bankruptcy filings constitute a much larger share of overall bankruptcy filings (e.g., 97% of all
bankruptcy filings for the most recent 12-month period were nonbusiness filings), the overall number of
bankruptcy filings declined during this period.
The 12-month period ending on March 31, 2020, included the first 18 days of the Coronavirus Disease
2019 (COVID- 19) national emergency declared by President Trump on March 13, 2020. The reporting
period ended just as new unemployment clains began spiking to historic levels. Consequently,
increases in bankruptcy filings as a result of COVID-19 may be reported in future periods. As noted by
the Administrative Office of U.S. Courts, the Great Recession [from December 2007 to June 2009]
triggered a surge in new bankruptcies over time, reaching a peak of nearly 1.6 million new filings by
October 2010 (more than a year after the formal end of the recession). The notable increases in business
and nonbusiness bankruptcy filings during the Great Recession and its immediate aftermath are shown in
Figure 1.
Many observers anticipate an increase in bankruptcy filings as a result of the COVID-19 pandemic. In
terms of business filings, it has been reported that already, companies large and small are succumbing to
the effects of the coronavirus. One finance expert, who created a method of predicting business failures,
has estimated that this year will easily set a record for so-called mega bankruptcies (i.e., companies that
are $1 billion or more in debt) and also expects the number of ... large bankruptcies-at least $100
million to increase.
Congressional Research Service
https://crsreports.congress.gov
INI 1458
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