Fuente : UK Government
http://www.open.gov.uk/

UK: INSOLVENCY STATISTICS FOR THE SECOND QUARTER 2005

/noticias.info/
Quarterly figures for company and individual insolvencies were published today. The figures show that company and individual insolvencies have risen when compared to the same period last year.

Today's figures show a rise in the total number of company insolvencies, rose by 12.4 per cent compared to the same period last year. Compulsory liquidations have risen by 11.6 per cent and creditors voluntary liquidations, by 2.8 per cent, compared to the same period last year. The figures also show that receiverships continue to fall with a 16.1 per cent drop and administrations continue to increase with a 45.9 per cent rise on the same period as last year. The number of companies entering administration has risen for the seventh successive quarter.

The figures also show that the total number of individual insolvencies has increased by 36.8 per cent on the same period as last year. Bankruptcies have risen by 27.5 per cent and Individual Voluntary Arrangements (IVAs), an alternative to bankruptcy, have risen by 69.6 per cent when compared to the figures for the same period last year.

Desmond Flynn, Insolvency Service, Inspector General and Agency Chief Executive, said:

"The administration process continues to be used to good effect. The rescue mechanism can provide a viable alternative to liquidation and gives creditors a better rate of return." He went on to say "Figures for individual insolvency have risen, with the largest increase being amongst consumers and this seems to be a direct consequence of the expansion in consumer credit."

For a full breakdown of the figures please view the following link http://www.dti.gov.uk/sd/insolv

Notes to Editors

1. The Insolvency Service administers the insolvency regime investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver, to establish why they became insolvent. We also authorise and regulate the insolvency profession; deal with disqualification of directors in corporate failures; assess and pay statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provide banking and investment services for bankruptcy and liquidation estate funds; and advise ministers and other government departments on insolvency law and practice.

2. The total number of company insolvencies represents the combined non-seasonally adjusted figures for compulsory liquidations, company voluntary arrangements, receiverships and administrations.

3. Statistics relating to petitions for insolvency are also being published today by the Department for Constitutional Affairs. Where someone wants to make himself or herself bankrupt they have to present a petition to the court which in nearly all cases makes the bankruptcy order sought. The same applies to a company which wants to have itself wound up. However where a creditor petitions for the bankruptcy or winding up of a debtor an order will not result if, as frequently happens, the debtor pays the debt claimed before the court hearing.

4. For further information about The Insolvency Service see http://www.insolvency.gov.uk notas_de_prensa_archivo