In fiscal year 08-09, there were 132 Chapter 11 filings. Three months away from the closing of this fiscal year, we have already had 129 filings. Just in this calendar year, Chapter 11 filings have increased 30%.

In each Chapter 11 case, our office must hold an Initial Debtor Interview (IDI) within 15 days from the filing of the petition and a meeting of creditors pursuant to 11 U.S.C. §341 (§341’s) after the first 20 days but before the 40th day of the filing of the petition. F.R.B.P. 2003.

The financial analysts hold the IDI’s in our office, and as a general rule they are scheduled on Mondays and Fridays, because we must frequently attend Chapter 7 or 13 §341’s on Tuesdays, Wednesdays and Thursdays.