The legal analytics platform Lex Machina, which is owned by LexisNexis, has again expanded its coverage, this time adding a Chapter 11 bankruptcy module that provides legal analytics for over 115,000 Chapter 11 proceedings.
The module includes the entire docket in any bankruptcy proceeding filed after 2009 in a U.S. Bankruptcy Court under Chapter 11 of the bankruptcy code, which provides a way for companies to reorganize and keep their businesses operating while paying off creditors over time.
The module adds filters for cases involving business debtors, voluntary petitions and confirmed plans, according to Lex Machina. It also incorporates tags specific to bankruptcy practice to filter for specific aspects of the docket including the petition, Chapter 11 plan, schedules, and confirmation orders.
According to Lex Machina, examples of searches that can be performed using the bankruptcy analytics include:
- Who are the most active creditors?
- Which law firms have the most experience representing creditor committees in Chapter 11 bankruptcies?
- What are the most active districts by number of Chapter 11 bankruptcies filed?
- How many times has my judge presided over a Chapter 11 bankruptcy that resulted in a confirmed plan?
- How much experience does my judge have presiding over Chapter 11 bankruptcies that involve small business debtors?
- What is the median time to plan confirmation for Chapter 11 bankruptcies filed in the Southern District of New York?
- How many Chapter 11 proceedings were filed over the last five years with at least $5 million in assets?
“With Lex Machina’s Chapter 11 Bankruptcy Module, lawyers can discover how much experience a particular bankruptcy court judge has presiding over Chapter 11 bankruptcies with over $5 million in assets, or how long it takes to reach plan confirmation in a specific district,” said Carla Rydholm, Lex Machina’s senior director of product management.
“Bankruptcy analytics aid businesses and legal practitioners in making more informed decisions about venue, timing, budget, and strategy.”