Amidst all the hype and hoo-hah of the US Presidential election along with the post inauguration debates on who can do what, and who can’t. Including the potential realisation that there may well be American laws written that are devoid of judicial review, and thus outside of the ability of a Court to ‘correct the intent’ at least to the extent that the Judges believe should have been the intent, there has been a small interesting piece of news released by the American Bankruptcy Institute.
In essence, the US bankruptcy filings in January 2017 are up 5 percent on the filings for the same month in 2016 and this represents the first consecutive monthly year on year increase since 2010.
This gem is on top of their earlier release that indicated for the whole of 2016 there was a drop of 6 percent in the national total, however during the same period the commercial filings were actually up a whopping 26 percent! To me as an outsider, in an arena of non-recourse property loans such a move is completely understandable.
2017 will most certainly be an interesting year!