In the 1^st quarter of 2023

Incoming cases in the 1^st instance courts of Madeira related to bankruptcy, insolvency and recovery of companies increased quarterly and year-on-year, but dropped vis-à-vis to the same quarter of 2019

According to the information provided by the Directorate-General for Justice Policy (DGPJ), the number incoming cases of bankruptcy, insolvency, and company recovery cases in the District of Madeira increased by 20.0%, i.e.from 55 in the 4^th quarter of 2022 to 66 cases in the 1^st quarter of 2023. Compared to the previous quarter (64 cases), there was an increase of 3.1%, but there was a drop of 15.4% vis-à-vis the same quarter of 2019.

In the 1^st quarter of 2023, there were 71 closed cases, of which 68 (95.8%) ended in bankruptcy or insolvency. This marks an increase in the number of bankruptcy/insolvencies over the previous quarter (49) and over the same quarter of the last year (52), corresponding to increases of +38.8% and +30.8%. However, there was a decrease of 9.3% compared to the 1^st quarter of 2019.

Regarding the type of legal person involved in the bankruptcies/insolvencies, natural persons accounted for a larger share (73.5%) than legal persons. Specifically, of the 68 decreed bankruptcies/insolvencies in this quarter, 50 involved natural persons and 18 involved legal persons. This result aligns with the usual trend, with the exception of the 2^nd quarter of 2020, when the number of bankruptcies/insolvencies decreed for legal persons exceeded that of natural persons.

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