The Bankruptcy Protection Act expired in January, which is estimated to exacerbate the bankruptcy situation.
Vireille the number of bankruptcies filed was clearly on the rise in March. According to data released by Statistics Finland on Wednesday, a total of 281 bankruptcies were filed in March, compared to 219 a year earlier.
In March, 1,402 people worked in companies that filed for bankruptcy, which is more than 300 more than in the comparison period last year.
In January – March, bankruptcy proceedings decreased by 11.2 per cent. In January – March, 695 bankruptcies were filed, which is 88 less than a year earlier.
The total number of employees in the companies filed for bankruptcy was 4,143, which is 713 more than in the previous year.
Vireille The number of bankruptcies filed has been exceptionally low since June last year.
The temporary change in the law restricting bankruptcy filing was in effect until the end of January. Bankruptcy may also be alleviated by a law extending the presumption of insolvency, which is in force until the end of September.
Legislative changes have limited a creditor’s ability to file for debtor bankruptcy.
Corporate restructuring in January – March, the number decreased by 27 per cent from the previous year. At the beginning of the year, 82 corporate restructurings were initiated, which is 30 corporate restructurings less than at the same time last year.
The volume of private debt restructuring, on the other hand, decreased by 5.5 per cent in January to March. At the beginning of the year, 937 debt restructuring applications were submitted to the district courts, which is 54 fewer than a year earlier.
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