3.4 percent less business insolvencies

In October last year the number of insolvencies in Germany once again decreased significantly. Local courts registered in total 13,286 insolvencies, 2457 of which business insolvencies. This figure represents a decrease by 3.4% as compared to October in 2007. The number of private insolvencies also fell to 8571 which is 5.2% less than the year before. The volume of unsettled claims by creditors amounted to 3.1 billion Euros, according to local courts, as compared to 2.7 billion Euros in October 2007.

In the period from January to October 2008 there were 82,106 insolvencies by private consumers (-8.3% as compared to the same period in the previous year) and 24,679 business insolvencies (-5.5%). In total, courts registered a little bit more than 130,000 insolvencies which is a reduction by 7.6% as compared to the same period in 2007. GERMAN

Matomo