8.3 percent less business insolvencies in Germany

There were significantly less insolvencies in the first half of 2008. There were in total 77,225 cases of insolvency, 14,650 of which by businesses and 48,466 ones by individuals. Thus, the number of business insolvencies fell by 8.3% as compared to the first half of 2007 and that by private households by 9.8%. In June 2008 there were 2405 business insolvencies (-8.5%) and 8100 insolvencies by private households (-5.9%).

In total German local courts registered 77,225 cases of insolvencies in the first six months of 2008, 12,761 of which in June. Thus, the drop as compared to June last year amounted to 7.0%. Taking into account the first half of this year the total number of insolvencies dropped by 9.3% as compared to the same period last year.

Unsettled claims by creditors amounted to 14.7 billion Euros in the first half of this year while this figure was 16.0 billion for the same period last year. GERMAN