ANALYSIS: Big Bankruptcy Cases on a Roll; Delaware Still Leads

2023 has continued to be a banner year for Chapter 11 bankruptcy megacases. In April, I reported that 2023’s megacase filings were already outpacing last year’s, and the momentum hasn’t abated. As of Aug. 31, there have been 120 megacases, not counting jointly administered affiliate cases.

To illustrate how busy this year has been compared with last year, I compared the number of megacases for H1 2022 to the number for H1 2023. Bloomberg Law’s Chapter 11 Petitions and Litigation Midyear 2022 Report identified 41 megacases (defined as nonindividual voluntary cases with more than $50 million in assets) for the ...