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  • Writer's pictureThe San Juan Daily Star

Number of bankruptcy filings in first half of 2023 higher than year-ago

By The Star Staff

The number of bankruptcies in Puerto Rico was 2,051 from January to June, a slight increase from the same period last year.

According to a report from Boletin de Puerto Rico, some 1,935 bankruptcy petitions were filed from January to June 2022. Total debt in bankruptcy filings for the first half of 2023 totaled nearly $264.9 million, or 7.9% less than the $287.7 million recorded during the same six-month period of 2022, the report showed.

Of the $264.9 million in the January-June period, about $130.7 million and $125.8 million were secured and unsecured debt, respectively, with almost $8.4 million classified as senior debt, the report said.

Between January and June, according to the report, 1,376 cases were filed under Chapter 13, while 647 bankruptcy cases were filed under Chapter 7. Meanwhile, some 26 Chapter 11 cases were filed between January and June, 23.8% compared to the 21 filed during the same period in 2022, the report said.

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