In the second quarter of 2022, overall Chapter 11 distress was largely flat quarter-over-quarter and remained substantially lower than both year-ago and historical benchmark levels. Real estate distress edged up slightly from the prior quarter but continued to track well below long-term norms, alongside a modest increase in filing share. Health care services distress declined modestly from the prior quarter but remained elevated relative to historical benchmarks, reflecting a return toward pre-pandemic distress levels.