Minnesota bankruptcies fall 11.5% in first half of 2012

Continuing a two-year trend, bankruptcy filings in Minnesota declined in the first half of 2012, dropping 11.5 percent from the same period last year, according to figures from U.S. Bankruptcy Court. Through June, there were a total of 9,178 bankruptcy filings, both business and personal.

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Jul 13, 2012

Continuing a two-year trend, bankruptcy filings in Minnesota declined in the first half of 2012, dropping 11.5 percent from the same period last year, according to figures from U.S. Bankruptcy Court. Through June, there were a total of 9,178 bankruptcy filings, both business and personal.

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Consumer bankruptcy cases filed in Minnesota dropped 11.3 percent in fiscal 2012, according to data released by the Administrative Office of the U.S. Courts. The Star Tribune reports there were 17,666 filings in the 12 month period that ended on Sept. 30 -- the fewest since 2008.

The Pioneer Press reports fewer Minnesotans are finding themselves in dire financial straits as the economy continues its slow recovery. Bankruptcy filings are down about 13 percent from a year ago.

KARE 11 reports in his bankruptcy filings, H. Cliff Harris says he owes between $10 million to $50 million to more than 200 different creditors. Some Papa John's employees say they were unable to cash this week's paycheck.

Infinite Spirits Inc., filed a Chapter 7 bankruptcy petition last month. The West Central Tribune reports the Minnesota-based company will be liquidated, but the Shakers brand could be sold. It was distilled in Benson up until last year.

Minnesota home foreclosures fell below 10,000 for the first time since 2007, according to a report published by the Minnesota Homeownership Center. The Pioneer Press reports there were 9,565 foreclosures statewide in the first six-months of 2012.

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