Debt rulings against corporations jumped 30 per cent last year
There was an almost 30 per cent jump in county court judgments (CCJs) against corporations in 2018, according to figures released yesterday.
A CCJ is a court order that can be registered against companies and individuals if they fail to repay money they owe.
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The number of CCJs against incorporated businesses was up 27 per cent at 93,534, but CCJs against unincorporated businesses, which are typically smaller, fell one per cent to 31,849.
The average value of an adverse business CCJ grew 25 per cent to £3,737, while the total value of business CCJs rose 49 per cent to £468.6m.
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Mick McAteer, deputy chairman of the Registry Trust, said: “The number of county court judgments issued in a year is an indicator of how the economy is performing. While the total of judgments against businesses was up significantly, this was counterbalanced by the fall in judgments against unincorporated organisations.”