Again less insolvencies in May

The number of companies going bankrupt once again fell in May this year. This development ,which has been going on for more than two years now, gives rise to optimism. As was recently reported by the Federal Statistical office, there were just 2507 company insolvencies registered by German courts in May 2007 which is 11.7% less than in May 2006. On the other hand, however, the number of private insolvencies increased further to 8994 which is 12.4% more than in May 2006.

The combined number of all kinds of insolvencies in May amounted to 14.131 cases (+ 4.0%). German courts reported that the claims by creditors amounted to 2.6 billion Euros in May 2007 (2.9 billion Euros in May 2006). Even though company insolvencies account for just 18% of all insolvencies, they relate to almost 55% of all claims.

In the period from January to May 2007 there were 12.067 company insolvencies (-12.9%) and 43.680 private insolvencies (+ 20.2%). In total courts registered 68.993 insolvencies which is 8.8% more than in the first five months of 2006. GERMAN