In the 2^nd quarter of 2022

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

According to the information provided by the Directorate-General for Justice Policy (DGPJ), the number of opened cases in the District of Madeira related to bankruptcy, insolvency, and company recovery proceedings went up from 64 in the 1^st quarter of 2022 to 65 cases in the 2^nd quarter of 2022 (+1.6%). Compared to the previous quarter (57 cases), there was an increase of 14.0%.

In the 2^nd quarter of 2022, 75 closed cases were counted, 72 (96.0%) of which ended in bankruptcy or insolvency. The number of bankruptcy/insolvencies increased from the previous quarter (52) and the same quarter of the last year (54).

Regarding the type of legal person involved in the bankruptcies/insolvencies, the share of natural persons (81.9%) was higher than the share of legal persons. In fact, of the 72 decreed bankruptcies/insolvencies in this quarter, 59 were natural persons and 13 of legal persons. This result is in line with the usual trend, with an exception only in the 2^nd quarter of 2020, with the number of bankruptcies/insolvencies decreed for legal persons exceeding that of natural persons.

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