Number of insolvencies unchanged in July

According to the Federal Statistical Office, German bancruptcy courts registered 2361 company insolvencies in July 2007 which is 0.7% less than in July last year. On the other hand, however, the number of private insolvencies kept rising: there were 9501 cases in July this year which is an increase by 21.2% compared to July last year. The total number of all kinds of insolvencies amounted to 14.464 cases (+12.0%) in July 2007.

Claims by creditors amounted to 2.5 billion Euros in July 2007 while last year this figure was 2.0 billion. Even though only one sixth of all insolvency cases involve companies, these insolvencies account for 55% of all claims.

In the period from January to July 2007 there were 16.876 company insolvencies (-9.5%) and 61.931 private insolvencies (+20.0%) registered. In total courts recorded 97.166 insolvencies which is a plus of 9.5% compared to the same period in 2006. GERMAN