Increase in insolvencies reflects impact of current economic and political factors
Latest statistics show a 20% increase in personal insolvencies in 2018/19 compared to the previous year but not up to the level of previous peaks
The Scottish Government has just released the latest insolvency statistics for the period April to June 2019. These show that there has been a 20% increase in personal insolvencies since last year but current levels remain below historic peaks in 2006-2007 and 2013-2014.
In relation to corporate insolvency, the AIB which produces the Scottish statistics monitors only liquidation, and not administration show a 9.4% increase on last year.
These figures could show that current economic and political factors are having an impact, driving both personal and corporate insolvency upwards.
If you would like any further information or advice regarding insolvency or restructuring, Iain Penman, Director in our Dispute Resolution and Litigation team would be happy to help.