The number of debt judgements recorded against businesses in England and Wales fell to a new half year low according to statistics from Registry Trust. There were 53,795 county court judgements (CCJ’s) issued against businesses in England and Wales in the first half of 2014, ten percent fewer that in the same period last year and less than half the 111,633 judgements recorded in the first half of 2009. The total value of these judgements also fell to a new low of £194m, compared with a peak sum of £510.2m recorded in 2009. The average value of a business CCJ stood at £3,606 in the first half of 2014.
The record low judgement numbers applied to both corporate and non corporate businesses, the latter typically being smaller enterprises. There were 23,200 CCJ’s recorded against non corporate businesses – worth £78.7m in the first half of 2014, well down on the peak year of 2009 when there were 51,765 CCJ’s worth £192.2m. Corporate businesses faced 30,595 judgements in the first half of the year, ten percent fewer than in 2013 and less then half the 64,868 judgements recorded in 2009. The total value of CCJ’s fell 15 percent to £115.3m, a third of the sum recorded in 2009.
The figures were reinforced by the latest results from the Insolvency Service. There were 8,757 company insolvencies in the first half of 2014, down eight percent compared with the same period last year. The number of high court judgements recorded against businesses in England and Wales also fell to a new low. There were 99 such judgements in the first half of 2014, the first time this figure has fallen into double digits since the recession.