In the 3^rd quarter of 2021

Number of bankruptcy, insolvency, and recovery of companies registered in the 1^st instance courts of the District of Madeira decreased from the prior quarter 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 decreased from 58 in the 2^nd quarter of 2021 to 41 cases in the 3^rd quarter of 2021 (-29.3%). Compared to the same quarter of the previous year (44 cases) there was a decrease of 6.8%.

In the 3^rd quarter of 2021, 40 completed cases were counted, 38 of which ended in bankruptcy or insolvency (95.0%). The number of bankruptcy/insolvencies decreased from the previous quarter (54) and the same quarter of the last year (39).

Regarding the type of legal person involved in the bankruptcies/insolvencies, the share of natural persons (81.6%) was higher than the share of legal persons. In fact, of the 38 decreed bankruptcies/insolvencies in this quarter, 31 were of natural persons and 7 of legal persons. This result is in line with the usual trend, and only in the 2^nd quarter of 2020 was there an exception, with the number of bankruptcies/insolvencies decreed for legal persons exceeding that of individuals.

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