Western District of Wisconsin Ranks 3rd in Chapter 12 Farm Bankruptcy Filings

By
November 15, 2016

The harvest is plenty, but with corn at $3/bushel, soybeans at $9/bushel, and milk at $15-$16/hundred weight, the profits are few.  Did you know that in 2015 and 2016, the Western District of Wisconsin ranks 3rd (out of 94 federal judicial districts) for most Chapter 12 farm bankruptcy filings?  In 2015, the Western District of Wisconsin (16 filings) was tied with the Northern District of New York (16) and behind only the Middle District of Georgia (20), the Eastern District of California (20), and the Middle District of Florida (18).

Similarly, through three quarters of 2016, the Western District of Wisconsin (17 filings) again ranks 3rd, which is tied with Kansas (17) and behind only the Middle District of Georgia (25) and Puerto Rico (21).

While it is true that overall bankruptcy filings in the Western District of Wisconsin (and throughout the country) are down fairly significantly; unfortunately, Chapter 12 cases are not following that downward trend and remain steady.  We have certainly noticed an increase in Chapter 12 cases that we are handling for our secured creditor clients.  We believe that trend will continue, as debtors’ counsel are indicating that more Chapter 12 cases “are on the way.”

Stay tuned for further blog postings that will identify common Chapter 12 issues and what you can do to prepare for a Chapter 12 filing by your loan customer.

Back to all News & Insights

Disclaimer

The content in the following blog posts is based upon the state of the law at the time of its original publication. As legal developments change quickly, the content in these blog posts may not remain accurate as laws change over time. None of the information contained in these publications is intended as legal advice or opinion relative to specific matters, facts, situations, or issues. You should not act upon the information in these blog posts without discussing your specific situation with legal counsel.

© 2024 Ruder Ware, L.L.S.C. Accurate reproduction with acknowledgment granted. All rights reserved.