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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

06 AUG 2010

The Insolvency Statistics: Second Quarter 2010

The Insolvency Service (IS) have published the second quarter insolvency statistics for 2010. The corporate insolvency figures show that there were 4,080 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2010 which was an increase of 0.5% on the previous quarter and a decrease of 19.1% on the same period a year ago. As the IS note "This was made up of 1,169 compulsory liquidations (which are down 9.9% on the previous quarter and down 21.0% on the corresponding quarter of the previous year), and 2,911 creditors voluntary liquidations (which are up 5.4% on the previous quarter and down 18.3% on the corresponding quarter of the previous year)."


There were 1,311 other corporate insolvencies in the second quarter of 2010 comprising 302 receiverships, 777 administrations and 232 company voluntary arrangements.  In total these represented a decrease of 14.3% on the same period a year ago.

The personal side is even more interesting. The personal insolvency figures for the 2nd quarter 2010 show that there were 34,743 individual insolvencies in England and Wales in the second quarter of 2010. This was an increase of 5.0% on the same period a year ago.
This was made up of 14,982 bankruptcies (which were down 20.6% on the corresponding quarter of the previous year), 13,466 Individual Voluntary Arrangements (IVAs), (which were up 10.2% on the corresponding quarter of the previous year) and 6,295 Debt Relief Orders (DROs).
There is of course an ongoing statistics consultation. See the document here. For the Telegraph's take on the statistics see here.

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