Bankruptcy filings fall to close out ’10

The year 2010 ended on a relatively good note for New Hampshire, when it comes to bankruptcy filings at least. The number of bankruptcies sharply declined in December compared to November 2010 and December 2009. But even with that decline, 2010 goes down as the busiest year in bankruptcy court, save for 2005, when there was a flurry of filings before a new law went into affect to make it harder to file. Some 364 business and individuals filed for bankruptcy in December, 12 percent lower than December 2009, and 15 percent fewer than November 2010. Still, that brings the unofficial yearly total to 5,507, a 7.5 increase over 2009 — the previous high point before the law change. The silver lining is that the rate of increase slowed considerably as 2010 progressed. In both 2008 and 2009, filings went up by 32 percent. There were four business filings in December 2010, down from nine in November and seven in October. None was a voluntary liquidation, and none was filed after Dec. 14. • Imperial Company Inc., West Lebanon, a printing company, filed Dec. 3, involuntary Chapter 7. Three creditors, all paper companies, based in New York and New Jersey filed, claiming they are owed a total of $63,657. The Imperial Company’s website now reads R.C. Brayshaw & Co., a printing company in Warner that bought it in May. • Air Design Services Inc., Merrimack, filed Dec. 7, Chapter 11. Assets and liabilities: $100,000 to $500,000. • 35-37 Courtland Street LLC, owned by Vatche Manoukian, developer and landlord, Nashua. Filed Dec. 9, Chapter 11. Assets and liabilities: $100,000 to $500,000. • Palm Tree Realty Holding Company LLC, Durham, filed Dec. 14. Chapter 11. Assets: $1,743,144. Liabilities: $3,111,842. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW