The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year.
For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell 19 percent to €15.1million, with the average value falling five percent to €26,221. Both the total and average values are record lows for calendar year data.
Though, by contrast, the median value of a business judgment rose to €7,234 in 2018, an increase of 21 percent compared to 2017.
The figures are based only on judgments registered at the request and cost of creditors at the Four Courts in Dublin and therefore provide only a partial picture of unmanaged debt judgments in the country. By comparison, in the much smaller economy of Northern Ireland, where judgments from all courts are registered, there were 8,075 judgments in 2018.
Malcolm Hurlston as Registrar at the Registry Trust said “The unknown number of unregistered judgments is a matter of severe concern. Business transactions depend on a base of reliable information.”
”Judgments from the Four Courts are in all likelihood the most important since lenders and others have chosen to have them registered at their own expense, but there is valuable public information in other courts too.“
- Judgments against businesses in 2018 (compared with 2017)
o Total: 575 (down 15 percent) [lowest annual figure on record]
o Total value: €15.1m (down 19 percent) [lowest annual figure on record]
o Average value: €26,221 (down five percent) [lowest annual figure on record]
o Median: €7,234 (up 21 percent)