Credit, Collections & Insolvency News
The number of debt judgments registered against Northern Ireland businesses in the third quarter (Q3) of 2020 saw a very large fall according to the latest Registry Trust figures.
The number of judgments registered in Q3 2020 was just 73, compared to 461 in Q2 last year, a fall of 84 percent. The total value of judgments against Northern Ireland businesses fell from £1.1 million to £457,243 a fall of 60 percent. The average value of business judgments rose steeply, from £2,467 to £6,264, up 154 percent. The story is one of many fewer, but larger judgments.
Registry Trust chairman Mick McAteer said “The latest Registry Trust data shows that Government and regulatory interventions, and forbearance by creditors, in response to the Covd-19 economic crisis continue to work. But, the respite may be short-lived as the damage to business and household finances will show up later once the jobs and consumer protection measures are unwound.”
| Judgments against all businesses | Half Year 2019 | Half Year 2020 | Change (compared with 2019) |
| volume | 461 | 73 | -84.16% |
| total value | £1,137,494 | £457,243 | -59.80% |
| average* value | £2,467 | £6,264 | 153.85% |
| median value | £837 | £2,708 | 223.54% |
| Judgments against incorporated businesses | |||
| volume | 414 | 51 | -87.68% |
| total value | £1,065,368 | £340,082 | -68.08% |
| average* value | £2,573 | £6,668 | 159.13% |
| median value | £837 | £2,810 | 235.72% |
| Judgments against unincorporated businesses | |||
| volume | 47 | 22 | -53.19% |
| total value | £72,12 | £117,161 | 62.44% |
| average* value | £1,535 | £5,326 | 247.03% |
| median value | £587 | £2,428 | 313.63% |
| Satisfactions | |||
| volume | 53 | 74 | -39.62% |
| total value | £101,751 | £141,174 | -38.74% |
| average* value | £1,920 | £1,908 | -0.63% |
| median value | £777 | £836 | -7.59% |