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John Penn in the Fort Worth Star-Telegram: Fort Worth-area bankruptcy filings fell 14 percent last year
Local bankruptcy filings fell 14 percent last year, mirroring a national trend but not necessarily indicating a strengthening economy, area practitioners say.
Business and consumer filings totaled 7,199 in 2011 at the Fort Worth court, which serves Tarrant and several nearby counties. That was down 14.3 percent from 8,398 filings in 2010, and was the lowest number since 2008...
John Penn, a Fort Worth bankruptcy attorney with Haynes and Boone who was ABI president in 2005-06, said the decline in business bankruptcies could be misleading.
"Some lenders are probably waiting for the economy to improve before they start to take action against their borrowers," Penn said. "Once collateral values start increasing, I would expect to see commercial bankruptcies increase as well.
Excerpt from The Fort Worth Star-Telegram, Jan. 16, 2012. To view the full article, click here.