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In the 3rd quarter of 2022, the overdue loans ratios decreased compared to the previous quarter (Read more...)
In 2022, the proportion of persons between 16 and 74 years old who reported having used the Internet in the last 3 months prior to the interview was higher in the Autonomous Region of Madeira than in the country (Read more...)
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Between January and September 2022, the egg production, livestock slaughtering and poultry meat increased year-on-year while landed catch registered a decrease, but its value rose (Read more...)
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DREM releases data for January to September 2022 on golf courses and cruise ships that visited the Region (Read more...)
In August 2022, Madeira’s economy accelerated (Read more...)
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In the 4th quarter of 2021
Number of bankruptcy, insolvency, and recovery of companies registered in the 1st instance courts of the District of Madeira increased from the prior quarter but remained unchanged 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 41 in the third quarter of 2021 to 55 cases in the fourth quarter of 2021 (34.1%). Compared to the same quarter of the previous year (55 cases) there was no change (0.0%).
In the fourth quarter of 2021, 47 completed cases were counted, 43 of which ended in bankruptcy or insolvency (91.5%). As regards the type of person involved in bankruptcies/insolvencies, natural persons had a higher share in the total number of cases than legal persons, accounting for 76.7% of the total. From the previous quarter, of the 43 bankruptcies/insolvencies, 33 were of natural persons and 10 of legal persons. This result is in line with the regular trend, and only in the second quarter of 2020 was there an exception, being the number of bankruptcies/insolvencies decreed for legal persons exceeding that of natural persons.
Annual number of incoming cases in 2021 was the lowest of the available time series
The annual analysis of the data indicates that the number of incoming cases of bankruptcy, insolvency and recovery of companies (196) and completed (209) cases showed different trends compared to 2020, with the first variable recording a minimum of the 2015-2021 time series in 2021, and the second variable growing compared to the previous year, reflecting changes of -2.5% and 13.0% (-36.4% and -34.1% compared to 2019, by the same order). The number of completed cases was higher than the number of new cases, meaning a reduction of pending cases of 28.3% (+10.0% than in 2019).
With regard to bankruptcy/insolvency cases decreed, there was an increase between 2020 and 2021 of 16.3%. Compared to 2019, there was a 32.1% drop. In what concerns to the type of person involved in the bankruptcies/insolvencies decreed, in 2021, the total number of cases of natural persons (76.9%) was higher than that of legal persons (23.1%). It should be noted, however, that the proportion of natural persons increased again this year when compared with the value reached in the previous year of the series (60.0%).
The information requested to DGPJ by DREM on the class of values of the cases with bankruptcy/insolvency decree showed that the class "Up to 4 999 euros" had the greatest share of total cases (33.9%), followed by the class "Between 5 000 and 9 999 euros", with 29.6%. The other two classes, "Between 10,000 euros and 49,999 euros" and "50,000 euros or more", were the least representative, together accounting for 36.6% of all cases. Compared to 2020, there were changes in the importance of the four classes under analysis, with the class "Between 5,000 euros and 9,999 euros" being the largest with 38.8% of total cases. In 2019, the dominant class was "Between 10 000 and 49 999 euros", with 33.2%.
Considering the section of the Classification of Economic Activities of the private legal persons involved in the insolvency proceedings decreed in 2021, 44.2% corresponded to the accommodation and food service activities and 23.3% to wholesale and, retail trade and repair of vehicles.
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