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The Economy

May 25, 1999

* The number of new bankruptcy filings in the U.S. fell to 330,784 in the first quarter, the lowest number since the fourth quarter of 1996, according to data released by the Administrative Office of the U.S. Courts. Personal bankruptcies declined 6% from the 1998 first quarter to 321,604, and business bankruptcies fell 26% to 9,180, it said. Congress, prompted by recent rises in filings, is grappling with plans to overhaul the U.S. bankruptcy system.

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