Buchanan Bankruptcy Shareholder James D. Newell Talks 2012 Filing Season with Pittsburgh Business Times

Last year the Pittsburgh region saw its lowest number of bankruptcy filings since 2006, a trend Buchanan Ingersoll & Rooney Bankruptcy Shareholder James D. Newell called expected.

“It’s consistent with what we’ve seen,” Newell explained in a Pittsburgh Business Times article published February 15, 2013. “Often things are done in out-of-court workouts with secured lenders and in state court receivership actions.”

Data compiled by the American Bankruptcy Institute indicated there were 370 business filings in the Western District of Pennsylvania in 2012, down 15 percent from the previous year. In the past decade, only 2006 – with 345 filings – had fewer.

As for the future, Newell expects the 2013 levels to “stay even” with 2012.