Crdito y Caucin | According to Iberinforms monitoring of insolvency proceedings published in the BOE, in the first seven months of 2021 the Spanish economy recorded a 69% increase in corporate insolvencies, 3,838 proceedings compared to 2,270 in the first seven months of 2020.
Data for the month of July (657 proceedings) show growth of 30% when compared to the data recorded a year ago. The confinements and moratoriums decreed during the first wave of the pandemic drastically reduced the number of insolvency proceedings filed. Both Spain and neighbouring markets have taken measures to curb bankruptcy filings by modifying filing thresholds, reducing the creditors ability to force admission or providing sufficient financial support for the…
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