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US bankruptcy filings are picking up steam after a two-year decline. According to a report released by S&P Global Market Intelligence, there were 591 bankruptcy filings as of Nov. 30 this year ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
On average, between 1980 and 1994, a US bank failed every three days. The pace of bankruptcies peaked immediately after the 2008 financial crisis. [1] The 2008 financial crisis led to many bank failures in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. [2]
Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution (in Article 1, Section 8, Clause 4), which empowers Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States".
Party City. In a move to cut its mounting debt, Party City filed for Chapter 11 bankruptcy protection in January. The retailer has accumulated $1.7 billion in debt after years of declining sales ...
Since the 1970s, over 90 banks in the United States with US$1 billion or more in assets have failed. The list below is based on assets at the time of failure of banks insured by the Federal Deposit Insurance Corporation. [1] [2]