Bankruptcy: Chapter 12 Bankruptcies Up 31% in Southeast
Brownfield’s reports that Chapter 12 bankruptcies – the federal bankruptcy chapter for family farms (11 U.S.C. Chapter 12) – have increased by 24% in the annual period ending September 2019. The Southeast – AR, LA, TN, MS, AL, FL, GA, SC, NC – saw a 31% increase numbering 118 filings, higher than the Midwest, Mid-Atlantic, and Northeast but less than the Southwest, West, Northwest and Puerto Rico. North Carolina saw 18 Chapter 12 filings, second behind Georgia at 37.