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Hawaii bankruptcy filings fall in February for 11th straight month

The number of bankruptcy cases filed by residents and businesses in Hawaii fell in February for the 11th month in a row, according to U.S. Bankruptcy Court statistics.

The 223 cases filed during the month was 23 percent fewer than the 288 filings in February 2010. Monthly filings have been dropping on  a year-over-year basis since last April.

Chapter 7 liquidation filings fell to 168 last month from 230 in February 2011. There were 51 Chapter 13 petitions recorded last month, compared with 59 a year earlier. Chapter 13 petitions generally are for individuals planning to repay a portion or all of their debts.

In addition, there were 3 Chapter 11 reorganization filings last month and one case filed under Chapter 12, which is reserved for farmers and fishermen who operate family-run businesses.

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