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Adams and Reese Attorney David Bowsher Interviewed on Business Bankruptcy Trends

2/7/2013
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Adams and Reese attorney David Bowsher, who serves as the firm’s Birmingham Office Partner in Charge, was interviewed by the Birmingham Business Journal in the article, “Business Bankruptcies Fall, But Federal Factors May Reverse Trend,” published February 1st in the newspaper’s print edition.
 
Business bankruptcy filings for the Northern District of Alabama fell 27 percent in 2012 — the lowest point since 2006, according to new data.
 
Experts say as the economy continues to stabilize, the number of bankruptcies should continue its downward spiral. However, some experts question if the cost associated with Obamacare will either reverse the trend or cause an uptick in business insolvencies.
 
The number of business bankruptcies in the Northern District, including the Birmingham metro area, dropped to 239 filings last year from 327 filings in 2011, according to data compiled by Epiq Systems and supplied to the Birmingham Business Journal by the American Bankruptcy Institute. That's its lowest point in at least six years. Commercial bankruptcy filings for the jurisdiction began to climb from 285 in 2006 to its 637 peak in 2009, but it declined in the past three years.
 
Bowsher said the local business bankruptcy statistics mirror the national trend of decline, signaling an economic recovery.
 
“However slowly, however incrementally, things are getting better,” he said.
 
At Adams and Reese, Bowsher focuses his bankruptcy practice on corporate and transactional matters, including those involving troubled companies, and on bankruptcy and corporate restructuring issues. He also spends time in the firm's DC office on governmental relations matters.
 
Adams and Reese is a multidisciplinary law firm with offices strategically located throughout the southern United States and Washington, DC.  American Lawyer includes Adams and Reese on its distinguished list of the nation's top law firms - "The Am Law 200.” The National Law Journal also includes the firm on the "NLJ 250" list of the nation's largest law firms.