ALEXANDRIA, Va. — The American Bankruptcy Institute reported
that total bankruptcy filings in the United States decreased 8 percent in April
compared to the same month last year.

According to data provided by Epiq Systems, bankruptcy
filings totaled 100,702 in April, down from the year-ago total of 108,996.

Consumer filings declined 7 percent to 96,344 from the April
of last year when consumer filing total was 103,798.

Total commercial filings last month decreased to 4,358,
representing a 16-percent decline from the 5,198 business filings recorded in
April of last year.

Conversely, total commercial Chapter 11 filings increased 5
percent to 701 filings in April from the 666 commercial Chapter 11 filings
registered last April.

"Households and businesses continue to adjust their balance
sheets in response to low interest rates, tighter lending standards and
decreased consumer spending," ABI executive director Samuel Gerdano said.
"These trends will continue to suppress bankruptcy filings this year."

Total bankruptcy filings for the month of April represented
a 2 percent decrease compared to the 102,653 total filings recorded in March.
Total noncommercial filings for April also represented a 2-percent decrease
from the March noncommercial filing total of 98,558.

However, April's commercial filing total represented a 6-percent
increase from the March commercial filing total of 4,095. April commercial Chapter
11 filings also increased, rising 17 percent when compared to the 597 filings
registered the previous month.

The average
nationwide per capita bankruptcy-filing rate in April increased to 3.52 (total
filings per 1,000 per population), an increase from the 3.40 rate registered
during the first three months of the year.

Average total filings per day in April were 3,357, an 8
percent decrease from the 3,633 total daily filings in April 2012.

States with the highest per capita filing rate (total
filings per 1,000 population) in April included:

1. Tennessee (6.76)

2. Georgia (5.76)

3. Alabama (5.75)

4. Illinois (5.59)

5. Nevada (5.27)

ABI partnered with Epiq Systems, a leading provider of
managed technology for the global legal profession, in order to provide the
most current bankruptcy filing data for analysts, researchers and members of
the news media.

Redmond Named ABI President

In other industry news, ABI announced that Patricia Redmond
of Stearns, Weaver, Miller, Weissler, Ahadeff & Sitterson, PA of Miami has
been selected by the ABI board of directors to be president for the 2013-14
term.

Redmond became president at ABI's 2013 Annual Spring Meeting
and will serve for one year.

An ABI member since 1985, Redmond is formerly ABI's vice president
of development and chaired both ABI's Southeast Bankruptcy Workshop and
Caribbean Insolvency Symposium. She has served on the ABI board of directors
since 2003.

Redmond is a shareholder in the business restructuring
department of Stearns, Weaver, Miller, Weissler, Ahadeff & Sitterson, PA.
Her practice focuses on bankruptcy with a concentration in creditors' rights
and insolvency counseling in bankruptcy court and in out-of-court workouts.
Redmond has extensive experience in representing trustees, creditors'
committees, secured creditors and debtors in Chapter 11 cases.

Redmond is also chair of the business bankruptcy committee of
the American Bar Association, co-chair of the ABA's Task Force in Bankruptcy
and Data Collection and is a fellow of the American College of Bankruptcy. She
has also been named Chambers USA America's Leading Lawyers for Business and is
a member of the Iron Arrow Honor Society, the highest honor attainable at the
University of Miami.

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