DREM releases data on bankruptcies and insolvencies

The Regional Directorate of Statistics of Madeira (DREM) will, from now on, release information regarding the cases of Bankruptcy, Insolvency and Recovery of Enterprises in the 1^st instance courts of the District of Madeira. These data is provided by the Directorate-General for Justice Policy (DGPJ).

The data release by DREM will take place on a quarterly basis, 120 days after the end of the reference quarter.

Pandemic had an impact on the flow of the cases of Bankruptcy, Insolvency and Recovery of Enterprises in the 1^st instance courts of the District of Madeira during the 2^nd quarter 2020

According to the information provided by the DGPJ, the number of opened cases in the District of Madeira related to bankruptcy, insolvency and recovery of enterprises dropped successively and sharply between 2015 (479) and 2018 (276). In 2019, this trend was reversed, with a 11.6% growth over 2018 in the number of opened cases. The most recent figures – for the 1^st and 2^nd quarters 2020 (53 and 49, respectively) are the lowest of the available series, which begins on the 1^st quarter 2015.

The number of closed cases had a trend  very similar to the opened cases - dropping between 2015 and 2018 and increasing in 2019 - however with higher figures, which explains why the pending cases decreased from 84 in 2015 to 32 in 2019. In the 1^st and 2^nd quarters 2020 , 48 and 44 closed cases were counted, the lowest of the available series. Regarding pending cases, in those quarters, the year-on-year change rates were +37.0% and 7.7%, by the same order. The number of pending cases in the 1^st and 2^nd quarters 2020 was 37 and 42, respectively.

Regarding the cases which ended in decreed bankruptcy and insolvency, there was a decreasing trend between 2015 and 2018, which was reversed in 2019, since this indicator rose by 7.1% over the previous year.

Regarding the type of legal person, in all quarters but the 2^nd quarter 2020, the proportion of natural persons involved in this type of cases is bigger than the share of legal persons. Of the 38 decreed bankruptcies/insolvencies in this quarter, 21 were of legal persons and 17 of natural persons.

By year, in the 2015-2019 period, in every four cases of bankruptcies/insolvencies, one is related to legal persons and three to natural persons.

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