The week in bankruptcies: Talen Energy files biggest Houston bankruptcy case of 2022

the-week-in-bankruptcies:-talen-energy-files-biggest-houston-bankruptcy-case-of-2022

Houston-area bankruptcy courts recorded several business filings — including one with total debts above $10 billion — in recent weeks. Year to date through May 20, 2022, the court recorded 40 Chapter 7 or Chapter 11 business bankruptcy filings, a 26% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’s assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor obligations…