Pacific Northwest Chapter 11 Business Reorganization Filings Continue on Downward Trend

Chapter 11 business reorganization filings in the Pacific Northwest continued on a downward trend during the second quarter of 2014, according to statistics published by the U.S. Bankruptcy Courts. Filings in Oregon, Washington, and Idaho for the six months that ended June 30, 2014, totaled 86, with 53 of those filings in the Western District of Washington, 15 in Oregon, and nine each in Idaho and the Eastern District of Washington. Although filings in the Western District of Washington saw essentially no change from 2013, averaging 8.83 filings per month, filings in Oregon, the Eastern District of Washington, and Idaho continued to decrease. Oregon saw a decrease from 3.25 to 2.5 filings per month, Eastern Washington from 1.66 filings to 1.5 filings per month, and Idaho from 1.75 to 1.66 filings per month. When compared to filings in 2011-2013, the entire region has seen a dramatic decrease in Chapter 11 reorganization activity, from a high of 356 filings in 2011 to a low of 186 filings in 2013 (a 47.8% decrease). The curve has flattened somewhat in 2014 with filings down approximately 7.6% from 2013 on an annualized basis.

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