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Fewer bankruptcies than expected

AN ANTICIPATED increase in the number of bankruptcies caused by the revision to the law on bankruptcy and restructuring did not occur in 2012. The Slovak Credit Bureau (SCB) came to this conclusion when analysing bankruptcy court rulings from 2012.

AN ANTICIPATED increase in the number of bankruptcies caused by the revision to the law on bankruptcy and restructuring did not occur in 2012. The Slovak Credit Bureau (SCB) came to this conclusion when analysing bankruptcy court rulings from 2012.

“Compared with 2011 we registered in 2012 a tendency toward a moderate decline in the number and share of declared bankruptcies as well as allowed restructurings,” the SCB wrote in a press release published on January 9.

The SCB registered 362 declared bankruptcies in 2012, which is 7.65 percent fewer, and 30 fewer proceedings, than in 2011. This figure is also lower than the level reported in 2010: 375.

In both 2011 and 2012, the highest number of bankruptcies was declared in three sectors: wholesale and retail trade and repair of motor vehicles and motorcycles; industrial production; and construction.

The ranking of individual regions of Slovakia in terms of declared bankruptcies did not change significantly in 2012 compared with 2011, when Bratislava Region dominated the figures. The smallest numbers of bankruptcies were declared in Trenčín, Nitra, Trnava and Košice Regions.

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