Bankruptcy lawyers have an extra incentive to file Chapter 11 bankruptcy cases for clients before they bite into their first piece of Thanksgiving turkey. That’s because on Nov. 21, the fees for Chapter 11 filings will increase from $1,167 to $1,213 as part of the Temporary Bankruptcy Judgeships Extension Act of 2012, signed into law by President Barack Obama on May 25. And don’t forget the $46 administrative fee tacked onto the filing fee, which is found under Item 8 of the Bankruptcy Court Miscellaneous Fee Schedule. Never before has it cost so much for a business to go broke.
--- John Council