Austin-area bankruptcy courts recorded three business filings — including two with total debts above $1 million — during the week that ended June 3. Year to date through June 3, the court recorded 24 Chapter 7 or Chapter 11 business bankruptcy filings, an 85% increase from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor…
