"SHERLOCK HOLMES" IN BANKRUPTCY
According to the US Court system, there were over 900 thousand bankruptcy filings during the fiscal year ending March 31, 2015. Although this number has been decreasing over the last 4 years (there were 1.5 million filings in 2011), bankruptcy is still with us given the 2008 economic downturn and the slow pace of recovery. Economic despair, a single unfavorable event, illness, negative cash flows or deteriorating creditworthiness are main drivers for bankruptcy filings. Additionally, greed, which can lead to fraud, continues to trigger and generate bankruptcy filings.