A year-over-year decline in Chapter 12 bankruptcies is being noted.
This comes in spite of challenges brought on by COVID-19 and bad weather. Higher commodity prices and government support are being credited for the turnaround. According to data gathered by the American Farm Bureau, 438 Chapter 12 filings were made between June 2020 and June this year, down 24 percent. It’s a noticeable shift considering the significant numbers of bankruptcies over the three previous years.
The Midwest, while it had the largest number of filings at 235, still had 61 fewer Chapter 12 filings during the past year, down 21% from the previous 12 months.
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