Farm bankruptcies are assessed for determinants of outcomes in the State of Georgia between2003 and 2014. Based on filer-specific financial characteristics and general economic conditions
at time of filing, limited dependent variable estimation is employed to assess the probability of
categorized outcomes. Also presented is a novel approach to synthesizing bankruptcy court
filings. This allows us to develop a reliable set of data and perform a meaningful analysis and a
unique method of classifying bankruptcy case dispositions. Among characteristics at time of
filing, greater property values and increased total assets are associated with a negative
probability of a positive outcome for debtors. These results indicate that the willingness and
flexibility of creditors significantly affects outcomes of chapter 12 bankruptcies.
