Insolvency statistics published for the first quarter of 2010

[Legal Beagles]

35,682 individual insolvencies in England and Wales, and 5175 personal insolvencies in Scotland
The Insolvency Service published statistics today for the first quarter of 2010, showing an increase of 17.9% in personal insolvencies on the same period a year ago. 35,682 individual insolvencies were reported, which were made up of:

• 18,256 bankruptcies (which were down 10.7% on the corresponding quarter of the previous year);
• 11,782 Individual Voluntary Arrangements (IVAs) which were up 20.1% on the corresponding quarter of the previous year; and
• 5,644 Debt Relief Orders (DROs).

The Accountant in Bankruptcy (AiB) also published its statistics for Scottish insolvencies in the fourth quarter of 2009/10 today, which show a drop in personal insolvencies of 9% between January and March of this year. The reported 5175 personal insolvencies were made up of:

• 3,142 awards of bankruptcy (which were down by 6% on the previous quarter and by 17% over the same period last year); and
• 2,033 Protected Trust Deeds (which were down by 13% on the previous quarter and up 3 % on the corresponding quarter of last year).

For further information view the full reports by the Insolvency Service, ‘Insolvencies in the first quarter 2010’ and the AIB, ‘Statistics release: Scottish insolvencies in the fourth quarter 2009/10’.


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