Looking into the crystal ball at the start of the year to forecast future trends isn’t possible, but one common theme that we expect will continue to impact upon both directors and officers and insolvency practitioners (IP) is the increasing rise of corporate insolvencies.
The Insolvency Service recently published its monthly report for insolvencies in December 2023, which reveals an increase in company insolvencies, reaching 2,002 cases – a rise from previous years and pre-Covid 19 times. In contrast, individual insolvencies evidenced a different trend, marking a 20% decrease with 6,584 reported cases in December 2023 as compared to the same month in the previous year.
The…
