Debt judgments against Irish businesses rise significantly

The number and total value of judgments registered against Irish businesses rose significantly according to new figures released by registrar Irish Judgments. The number of judgments registered nearly doubled from 63 in Q2 2020 to 124 in Q2 2021.

The total value owed in Q2 2021 was €1.4 million, more than three times the €440,462 in Q2 2020. The average value of business judgments was up 62 percent from €6,991 to €11,297. The median value also rose from €4,876 to €5,709, an increase of 17 percent.

Mick McAteer, as Registrar,  at the Registry Trust said “Government and regulatory interventions, and creditor forbearance, were clearly protecting Irish consumers and businesses from the full financial effects of Covid last year. Care should be taken in interpreting the very large percentage rises in judgments reported now, as figures were artificially low in the same period last year. But, judgment numbers would now seem to be on the rise again, creating concerns that the Covid financial crisis is far from over for vulnerable consumers and businesses.”

Q2 2020	Q2 2021	Change (compared with 2020)
Judgments against all businesses
volume	63	124	96.8%
total value	€440,462	€1,400,844	218%
average* value	€6,991	€11,297	61.6%
median value	€4,876	€5,709	17.1%
Judgments against incorporated businesses
volume	40	107	167.5%
total value	€307,189	€1,151,768	274.9%
average* value	€7,680	€10,764	40.2%
median value	€6,026	€5,729	-4.9%
Judgments against unincorporated businesses
volume	23	17	-26.1%
total value	€133,273	€249,076	86.9%
average* value	€5,794	€14,652	152.9%
median value	€1,646	€4,515	174.3%
Satisfactions
volume	1	38	n/a*
total value	€1,262	€3,034,965	n/a
average* value	€1,262	€79,868	n/a
median value	€1,262	€4,444	n/a