Insolvency Statistics news
This is the first month in which overall company insolvencies exceeded those from the same month in 2019.
The Insolvency Service expresses some caution with these statistics, in that the total number of Corporate Insolvencies in December 2019 were, in any event, low.
Individual (Personal) insolvencies continue at lower level, with bankruptcies being 26% lower than in December 2019 and debt relief orders being 40% lower when compared to the same period.
Please click here to follow the link to the statistics.
Interestingly, and perhaps providing an insight into the insolvency services strategy, a consultation has been issued which suggests that the limit on total liabilities in debt relief orders be increased from its current £20,000 to £30,000.
This may well indicate the view that individual insolvencies are likely to increase significantly over the coming years.
On the wider insolvency and restructuring news there is yet a further acquisition/consolidation of practices with the recent news of the acquisition of CVR Global by Begbies Traynor.
I, and my team, remain committed to providing expert independent Insolvency advice and will be pleased to deal with any questions you may have.
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