Looking behind the Q1 2015 insolvency statistics

Looking behind the Q1 2015 insolvency statistics

The Insolvency Service has today published its insolvency statistics for the first quarter (January to March) of 2015. Generally, the number of both corporate and personal insolvencies continues its downward trend, albeit with increases of nearly 10% for both administrations and compulsory liquidations compared to the previous quarter, but still down on the same first quarter in 2014.

To read the Insolvency Service's Q1 2015 statistics release, click here.

Graham Bushby, Partner and National Head of Restructuring and Recovery, and Mark Sands, Personal Insolvency Partner, both of Baker Tilly, comment on these latest figures:

Graham Bushby:

‘With company insolvencies at their lowest level since the fourth quarter of 2007, the latest figures from the Insolvency Service present a positive picture of corporate financial health in England and Wales. However, the statistics don’t really tell the whole story as there are many companies still experiencing significant financial distress and a number of reasons why we could see insolvency levels rising again within the next one to two years.

We have seen a trend for the banks to sell off their non-core bad debt books to private equity groups. As these groups work through those debt books, they are prioritising those firms that they can realise assets from first. However, as

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About the author:

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.