Lex Machina and LexisNexis announced today that it has officially released a Chapter 11 Bankruptcy Module, which provides Legal Analytics for over 115,000 Chapter 11 proceedings. It’s been a long time coming. Ever since they launched their Bankruptcy Appeals Analytics in 2017, customers have be wondering when Chapter 11 analytics would launch. Hooray! That day is here.
Excellent timing given the fragile state of the economy. Recessions has historically been a boon for Bankruptcy and Finance practices. The Chapter 11 Bankruptcy Module includes the entire docket in any bankruptcy proceeding filed after 2009 in a United States Bankruptcy Court under Chapter 11 of the Bankruptcy Code. Like other Lex Machina modules, the Chapter 11 Bankruptcy Module provides insights into judges, courts, debtors, creditors, creditor committees, and trustees involved in Chapter 11 proceedings over the last 13 years.
The Chapter 11 Bankruptcy Module incorporates special features such as filters for cases involving business debtors, voluntary petitions, and confirmed plans. It also incorporates an extensive collection of practice bankruptcy specific document tags to filter for specific aspects of the bankruptcy docket including the petition, Chapter 11 plan, schedules, and confirmation orders. The inclusion of these unique parameters enables users to find the most relevant information and analytics quickly and easily.
Our current set of Chapter 11 Bankruptcy Module cases, documents, and filters can help answer questions such as:
- 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 United States Bankruptcy Court for 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 dollars 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.”
LexisNexis has invested in both natural language processing technology combined with attorney review to analyze the 2.7 million court documents included in the Chapter 11 Bankruptcy Module. The human/AI combination enhance the accuracy and precision of the Lex Machina tagging.