The number of debt decrees registered against businesses in Scotland fell during the third quarter of the year, according to figures released today by Registry Trust. There were 561 decrees against all businesses in the third quarter 2017, down 43 percent compared with the same quarter a year ago.
The total value of all business decrees, at £2,384,008, was 91 percent lower than Q3 2016’s figure. Decreasing 84 percent, the average business decree’s value also sharply dropped. Two large corporate judgments in 2016 totalling £21.5m skewed the figures. Discounting these judgments, the total value of decrees against companies (incorporated businesses) fell by 35 percent and the total value of all business judgments was down 45 percent.
Similarly adjusted, the average value of a business decree fell by five percent. Likewise, the typical corporate judgment decreased by a quarter. In contrast, the average value of an unincorporated business decree rose 32 percent during the same period.
Malcolm Hurlston CBE, chairman of Registry Trust said “The September quarter was strong for Scottish business. There should be some concern about whether smaller businesses are at more risk, which will be clearer in the final quarter.”
In Q3 2017 Registry Trust received 7,922 requests to search the register for Scotland online at www.trustonline.org.uk. TrustOnline allows anyone to search for judgments and similar information registered against consumers and businesses in any jurisdiction across the British Isles and Ireland.