In the 3rd quarter of 2022
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 decrease and a year-on-year increase
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 down from 65 in the 2nd quarter of 2022 to 51 cases in the 3rd quarter of 2022 (-21.5%). Compared to the same quarter of last year (41 cases), there was an increase of 24.4%. It should be noted that the quarterly change is related to the fact that the 3rd quarter is usually the quarter with the lowest number of cases of this nature, as it partially coincides with the judicial vacations.
In the 3rd quarter of 2022, 49 closed cases were counted, 46 (93.9%) of which ended in bankruptcy or insolvency. The number of bankruptcy/insolvencies decreased from the previous quarter (72) but increased when compared to the same quarter of the last year (38).
Regarding the type of legal person involved in the bankruptcies/insolvencies, the share of natural persons (89.1%) was higher than the share of legal persons. In fact, of the 46 decreed bankruptcies/insolvencies in this quarter, 41 were natural persons and 5 of legal persons. This result is in line with the usual trend, with an exception only in the 2nd quarter of 2020, with the number of bankruptcies/insolvencies decreed for legal persons exceeding that of natural persons.
