Bankruptcies drifting lower

Bankruptcies drifting lower

Notifications of bankruptcies and No Asset Procedures through the Insolvency and Trustee Service of the Ministry and Economic Development fell in the last week to 100 and has been sliding since the end of the financial year to June 30. Bankruptcy notifications fell to 31 from 38 in the previous week and are down from a high of 69 in the week to June 20, while No Asset Procedure Notifications (NAP) fell to 60 from 72 the previous week and a high of 94 in the week to June 27. Combined NAP and Bankruptcy figures for the four weeks August 28 totalled 407, which was up slightly from the 336 recorded in the four weeks to August 1, but was down from a peak of 493 in the four weeks to July 4. * This item was first published in our subscription newsletter available here.

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