# Bankruptcy & Default Tracker (Phase 197)
Track corporate bankruptcies, Chapter 11 filings, and default notices via SEC EDGAR filings.
## Data Sources
1. **SEC EDGAR 8-K Filings** (Item 1.03)
- Bankruptcy notices and Chapter 11 filings
- Form 8-K/A amendments
2. **SEC 10-K/10-Q Filings**
- Going concern warnings
- Substantial doubt disclosures
3. **SEC Full-Text Search**
- Keyword-based bankruptcy detection
- Real-time RSS feeds
## Features
### 1. Bankruptcy Search (`bankruptcy-search`)
Search recent SEC filings for bankruptcy-related disclosures.
**Keywords Tracked:**
- "chapter 11"
- "chapter 7"
- "bankruptcy protection"
- "filed for bankruptcy"
- "bankruptcy petition"
- "going concern"
- "substantial doubt"
- "default notice"
- "covenant breach"
- "restructuring plan"
- "debtor in possession"
- "insolvency"
**Parameters:**
- `--days`: Lookback period (default 30)
- `--limit`: Max results (default 50)
**Output:**
```json
[
{
"company": "Example Corp",
"cik": "0001234567",
"form_type": "8-K",
"filing_date": "2025-02-15",
"description": "Bankruptcy filing under Chapter 11...",
"url": "https://www.sec.gov/...",
"keywords_found": ["chapter 11", "bankruptcy protection"]
}
]
```
### 2. Company Bankruptcy Tracker (`bankruptcy-tracker`)
Get bankruptcy risk assessment for a specific company.
**Parameters:**
- `--ticker`: Stock ticker symbol (required)
**Output:**
```json
{
"ticker": "AAPL",
"company": "Apple Inc",
"cik": "0000320193",
"bankruptcy_risk": "LOW",
"recent_filings": [],
"total_bankruptcy_filings": 0
}
```
**Risk Levels:**
- `HIGH`: Recent bankruptcy-related filings found
- `LOW`: No bankruptcy indicators
### 3. Bankruptcy Statistics (`bankruptcy-stats`)
Aggregate bankruptcy trends and statistics.
**Parameters:**
- `--sector`: Optional sector filter
- `--year`: Optional year filter (default: last 365 days)
**Output:**
```json
{
"period": "2024-01-01 to 2024-12-31",
"total_filings": 127,
"unique_companies": 89,
"by_form_type": {
"8-K": 76,
"10-K": 31,
"10-Q": 20
},
"by_month": {
"2024-01": 8,
"2024-02": 12,
...
},
"by_keyword": {
"chapter 11": 45,
"going concern": 38,
"bankruptcy protection": 22
},
"top_companies": [
{
"company": "Example Corp (0001234567)",
"filing_count": 5
}
]
}
```
## Usage Examples
### CLI
```bash
# Search last 7 days
python cli.py bankruptcy-search --days 7 --limit 20
# Track specific company
python cli.py bankruptcy-tracker --ticker TSLA
# Get 2024 statistics
python cli.py bankruptcy-stats --year 2024
# Current year stats
python cli.py bankruptcy-stats
```
### MCP Server
```python
# Through MCP protocol
{
"tool": "search_bankruptcy_filings",
"parameters": {
"days": 30,
"limit": 50
}
}
{
"tool": "get_bankruptcy_tracker",
"parameters": {
"ticker": "AAPL"
}
}
{
"tool": "get_bankruptcy_stats",
"parameters": {
"year": 2025
}
}
```
## Implementation Details
### SEC EDGAR API
- User-Agent: Required by SEC (QuantClaw/1.0)
- Rate Limit: 100 requests/minute
- Formats: RSS/Atom feeds, HTML scraping
### Search Strategy
1. **Multi-form search**: 8-K, 10-K, 10-Q
2. **Keyword combinations**: Multiple bankruptcy-related terms
3. **Deduplication**: By CIK + filing date
4. **Sorting**: Most recent first
### Data Quality
- **Real-time**: RSS feeds updated as filings are made
- **Coverage**: All US public companies
- **False Positives**: Minimal due to SEC filing structure
- **Latency**: <1 hour from SEC publication
## Limitations
1. **PACER Access**: Federal court filings require subscription
- Free tier provides RSS feeds only
- Full access requires PACER account
2. **Private Companies**: Only tracks public companies (SEC filers)
3. **International**: US companies only
- Non-US companies tracked via SEC filings only
4. **Historical Data**: RSS feeds limited to recent filings
- Full historical search requires EDGAR bulk download
## Future Enhancements
1. **PACER Integration**: Direct Chapter 11 court filings
2. **Predictive Model**: ML bankruptcy risk scoring
3. **Credit Watch**: Link with CDS spreads module
4. **Sector Analysis**: Industry-specific distress indicators
5. **Creditor Analysis**: Track secured vs unsecured debt
6. **DIP Financing**: Debtor-in-possession loan tracking
## Related Modules
- **Phase 30**: CDS Spreads (credit risk pricing)
- **Phase 59**: Earnings Quality (financial distress signals)
- **Phase 61**: Dark Pool Tracker (insider selling)
- **Phase 156**: Corporate Bond Spreads (distress indicators)
## Technical Stack
- **Language**: Python 3
- **Dependencies**: requests, xml.etree.ElementTree (stdlib)
- **API**: SEC EDGAR RSS/Atom feeds
- **Storage**: JSON output (no persistence)
## Lines of Code: 371
---
**Status**: ✅ Done (Phase 197)
**Category**: Alternative Data
**Update Frequency**: Daily (RSS feeds continuously updated)
