Number of bankruptcies expected to grow

THE NUMBER of bankruptcies in Slovakia will grow by 8.7 percent this year to 1,788, according to a study by insurance group Euler Hermes.

Not even the fast growth expected in the country's economy can avert this trend, the Hospodárske noviny daily wrote.

Justice Ministry statistics show that 1,645 companies filed for bankruptcy last year. According to Helena Múdra from Euler Hermes, 80 percent of all proposed bankruptcy proceedings were rejected on the grounds of the complete insolvency of the bankrupt entities. According to Múdra this is an alarming figure, as it shows that the number of companies with absolutely no assets is increasing.

Compiled by Martina Jurinová from press reports
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