21 bankruptcies enter into court every day

1/5/2013 in Jornal de Notícias

In 2012 over five thousand cases were delivered,  the vast majority of them coming from individual people.

The “Jornal de Notícias” writes today that “last year the Supreme Court received 5389 ​​applications for bankruptcy, insolvency and corporate recovery, which are 752 cases more than in 2011. According to the Ministry of Justice, between the fourth quarter of 2007 and the same period in 2012, the increase was 395%. Also the cases of insolvencies of individuals continued to increase. The total of 59.5% (2011) went to 65.3%. In numbers, this is around 2712 processes. Five years ago the percentage was 17.6%, which means that the processes have grown fourfold. Most of the insolvency processes involve an amount of up to ten thousand Euros. ”



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