Chapter 11 megacase filings got off to a fast start in US bankruptcy courts this year, with Delaware remaining the leading venue for megacase petitions.
Companies filed megacases—defined here as voluntary Chapter 11 filings of nonindividuals with more than $50 million in assets (not counting jointly administered affiliate cases)—four times more often in first-quarter 2023 (48 cases) than in the first quarter of 2022 (12 cases), and almost twice as frequently than in the first quarter of 2021 (28 cases).
The lower total in 2022 reflected a time when companies may still have been benefiting from pandemic-related stimulus measures, corporate ...
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