Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
Restructuring & Insolvency analysis: What do the latest corporate and personal insolvency statistics released by the Insolvency Service for Q3 2014 tell us about the insolvency landscape?
Insolvency Service publishes Q3 insolvency statistics
The number of company liquidations in England and Wales decreased by 11.7% in the period July to September 2014 compared with the same period in 2013, newly published official statistics on insolvencies has shown. The statistics, released by the Insolvency Service, also show the number of company voluntary arrangements and receiverships were lower than in 2013.
While there has been an increase pretty much across the board in the number of corporate insolvency cases since the previous quarter (compulsory liquidations being the exception), the number of individuals entering into a personal insolvency process has decreased. However, these statistics should be viewed on a longer-term basis to gain a better picture. Compared to the same quarter in 2013, the number of corporate and personal insolvency cases has decreased, with only debt relief orders (DROs) being the exception.
Although the number of administrations increased by 16.9% over the last quarter, in total, the actual number of administrations, creditors’ voluntary liquidations (CVLs), receiverships and company voluntary arrangements (CVAs) increased by 86 cases. The decrease of 12.4% in the number of compulsory liquidations of 12.4% was represented by 121 fewer winding-up orders being made.
The longer-term trend, however, sees a decrease across the board in the number of corporate insolvency cases. When compared against the figures for the same quarter in 2013, the percentage decreases were 5.3% for CVAs through to 30.8% for receiverships. CVLs, which are by far the most common form of corporate insolvency process, have seen a decrease of 13.3% since the same quarter in 2013.
In the 12 months ending Q3 2014, one in 186 active companies went into liquidation (the liquidation rate)—meaning that, as the Insolvency Service has pointed out, the liquidation rate was at its lowest level since 1984.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
Stephen qualified as a solicitor in 2005 and joined the Restructuring and Insolvency team at Lexis®PSL in September 2014 from Shoosmiths LLP, where he was a senior associate in the restructuring and insolvency team.
Primarily focused on contentious and advisory corporate and personal insolvency work, Stephen’s experience includes acting for office-holders on a wide range of issues, including appointments, investigations and the recovery and realisation of assets (including antecedent transaction claims), and for creditors in respect of the impact on them of the insolvency of debtors and counterparties.
0330 161 1234