This past June’s report of bankruptcy claims trading shows numbers on the decline for the second month in a row. In April, bankruptcy claims trading reached a record high at $3.65 billion. In June, claims trading fell to $2.1 billion. Furthermore, the number of trades fell to 816 in June, compared to the 917 in May.
Bankruptcy cases with the highest number of claims trading included Chemtura Corp., Tribune Co., Flying J Inc., Smurfit-Stone, and Lehman Brothers Holdings Inc.. Lehman Brothers had the highest number of trading claims at 224 and almost $2 billion.
Chris Moon, director of the bankruptcy claims market at SecondMarket, cited the “summer slowdown”, a decrease in the number of big cases filed, and many businesses coming out of chapter 11 bankruptcy as reasons for the decline.
If you or someone you know are considering filing for bankruptcy protection, contact the Milwaukee bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about your rights.