Courts declared 303 bankruptcies in 2005

REGIONAL courts in Slovakia declared 303 companies bankrupt last year, just over 50 percent more than in 2004.

In Central and Eastern Europe only Croatia, Bulgaria and Estonia registered fewer bankruptcies. Courts in the Czech Republic declared 1,205 companies bankrupt, while in Hungary the figure reached 8,099.

"In total, companies filed 3,907 motions for bankruptcy, which is up 79 percent from 2004," said Peter Meier, the head of Coface Slovakia Credit Management Services, which collects similar data.

The courts rejected 1,035 of the total number of motions due to insufficient assets, a rise of 78 percent from 2004, the SITA news agency wrote.

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