Austrian Insolvencies down by 12,6% in Q1 2015

The total number of insolvencies decreased from 1.452 in Q1 2014 by 12,6% to 1.269, while the number of rejected insolvency proceedings due to a lack of cost covering assets even went down by 15,8% from 606 (Q1 2014) to 510 (Q1 2015). The opened insolvency proceedings amounted in Q1 2014 846 and in Q1 2015 759, reflecting a reduction of 10,3%.

 

Q1 2015

Q1 2014

Change (%)

Opened Insolvencies

759

846

-10,3%

Non-Opened Insolvency Proceedings

510

606

-15,8%

Total Insolvencies

1.269

1.452

-12,6%

Total Insolvency Liabilities

MEUR 319

MEUR 467

-31,7%

(Source: KSV1870)

 

Do these figures contradict the assessment (e.g. by Atradius) that the whole-year change of insolvencies in Austria from 2014 to 2014 will be zero? No, due the factors that influence insolvency developments. Insolvency numbers (especially among over debted) may go up in the course of increasing interest rates. But however, as interest rate levels should remain low, the development of the first quarter in 2015 is quite satisfying, as KSV1870 points out.

Full Figures (in German)

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