Seattle area bankruptcy courts recorded one business filing with total debt above $1 million during the week that ended Oct. 16. Year to date through Oct. 16, the court recorded 54 Chapter 7 or Chapter 11 business bankruptcy filings, a 11% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor obligations with the…