04-05-2021 - In the 4th quarter 2020, the number of opened cases in the 1st instance courts of the District of Madeira related to bankruptcy, insolvency and recovery of enterprises had a quarterly increase and a year-on-year decrease

In the 4^th quarter 2020

Number of opened cases in the 1^stinstance courts of the District of Madeira related to bankruptcy, insolvency and recovery of enterprises had a quarterly increase and a year-on-year decrease

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 recovery of enterprises rose from 44 in the 3^rd quarter 2020 to 55 cases in the 4^th quarter 2020 (+25.0%). Compared to the previous quarter (70 cases), the decline was of 21.4%.

In the 4^th quarter 2020, 49 closed cases were counted, 43 of which ended in bankruptcy or insolvency. The number of bankruptcy/insolvencies increased from the previous quarter (39), but dropped over the same quarter of the previous year (80).

Regarding the type of legal person, the proportion of natural persons (62.8%) involved in this type of cases was bigger than the share of legal persons. Of the 43 decreed bankruptcies/insolvencies in this quarter, 27 were of natural persons and 16 of legal persons.