Joel L. Tabas, of counsel with Miami’s Markowitz Ringel Trusty + Hartog, has handled bankruptcies and insolvencies for the last 40 years, working on more than 65,000 matters since 1992, including consumer bankruptcies, reorganizations, liquidations, and Ponzi schemes.
In a Daily Business Review story, Tabas comments that tariffs, immigration enforcement and interest rates are a few of the factors attorneys say are contributing to a surge in bankruptcy filings and trends in Florida, but especially in South Florida. Data shows bankruptcy filings in Florida increased 23.5% during the 12-month period that ended June 30, with national bankruptcy filings rising at 11.5% in that time frame.
Typically, recessions occur every 10 to 12 years, but historically, they’re very hard to predict, he said. And pointing to South Florida strong and predominantly Hispanic immigrant population, Tabas noted that blue-collar labor may be impacted by immigration policies. “The unemployment rate is at a very low level right now. If you get rid of some of the population, which can fulfill some of those jobs…you’re going to be creating a little bit more of a labor shortage,” Tabas said.