Philip Winterborne, chair of insolvency and restructuring trade body R3 in Wales and a partner at Temple Bright solicitors, comments on the recent publication of the July corporate and personal insolvency statistics:
The month-on-month rise in corporate insolvencies in July is largely down to an increase in administrations, Compulsory Liquidations, and Creditors’ Voluntary Liquidations (CVLs). Although overall numbers remain low in comparison to the same time last year, this uptick could suggest that the pandemic might now be starting to be seen in the insolvency figures.
On the personal insolvency side, this months decrease has been driven by a reduction in the number of Debt Relief Orders (DROs), and Individual Voluntary Arrangemen…
Read the full article at: https://businessnewswales.com/pandemic-is-starting-to-affect-corporate-insolvency-levels/
