Saturday, 19 April 2014

No. of personal bankruptcies in 2012 highest in four years

ČTK |
3 January 2013

Prague, Jan 2 (CTK) - As many as 16,956 personal bankruptcies were declared in the Czech Republic last year, an annual hike of 46 percent and the highest amount since 2008 when the new insolvency law took effect, said an analysis of the company CCB - Czech Credit Bureau.

A total of 1,296 personal bankruptcies were declared in December, 269 fewer on the month but 221 more on the year.

CCB registered 1,872 personal bankruptcy petitions in December, a drop of 420 compared with November, but a rise of 180 from December 2011.

Karlovarsky region registered almost 41 bankruptcies per 10,000 inhabitants last year, the highest number, followed by Kralovehradecky region with 25.6 bankruptcies per 10,000 inhabitants.

The capital city of Prague reported an annual rise of 81 percent but still Prague occupied the first position with six bankruptcies per 10,000 inhabitants.

"Economy will not expand this year, real wages are also unlikely to grow and the number of job seekers will increase," CCB analyst Vera Kamenickova said. As a result the amount of people unable to repay their debts will be rising.

"The number of personal bankruptcies will grow further but at a slower pace than in 2008 and 2009," she said.

month personal bankruptcies personal bankruptcy petitions
January 2011 740 1,006
February 802 1,276
March 1,048 1,566
April 907 1,345
May 874 1,518
June 1,024 1,592
July 883 1,271
August 1,146 1,549
September 992 1,520
October 1,018 1,584
November 1,134 1,769
December 1,083 1,704
January 2012 1,312 1,656
February 1,224 1,913
March 1,319 2,121
April 1,369 2,019
May 1,526 1,972
June 1,385 2,017
July 1,245 1,931
August 1,628 2,050
September 1,410 1,754
October 1,703 2,348
November 1,566 2,292
December 1,296 1,872

Source: CCB

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