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In the 2nd quarter of 2021

Number of bankruptcy, insolvency, and recovery of companies, registered in the 1st instance courts of the District of Madeira, increased quarterly and year-on-year

According to the information provided by the Directorate-General for Justice Policy (DGPJ), the number of incoming cases in the District of Madeira related to bankruptcy, insolvency, and company recovery proceedings increased from 43 in the 1st quarter of 2021 to 58 cases in the 2nd quarter of 2021 (+34.9%). Compared to the same quarter of the previous year (49 cases) - a period when the restrictions implemented to control the pandemic had more impact - there was an increase of 18.4%.

In the 2nd quarter of 2021, 63 completed cases were counted, 54 of which ended in bankruptcy or insolvency (85.7%). The number of bankruptcy/insolvencies increased from the previous quarter (51) and the same quarter of the last year (38).

Regarding the type of legal person involved in the bankruptcies/insolvencies, the share of natural persons (77.8%) was higher than the share of legal persons. In fact, of the 54 decreed bankruptcies/insolvencies in this quarter, 42 were of natural persons and 12 of legal persons. This result is in line with the usual trend, and only in the 2nd quarter of 2020 was there an exception, with the number of bankruptcies/insolvencies decreed for legal persons exceeding that of individuals.

Falencias insolvencias EN

 

 

 

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International Statistical Cooperation

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