Company liquidation filings rise, still below 2008 GFC levels, High Court says

The removal of Covid-19 financial support, and a more active approach by Inland Revenue to pursue actions, contributed to an increase in new company liquidation application filings, the High Court says. (Image: Getty)

John Anthony

Fri, 12 Jul 2024

Company liquidation applications have been steadily increasing since mid-2022, but are still well below the highs of the 2008 Global Financial Crisis, the High Court says.The High Court has released its 2023 annual report, which said new filings of insolvency proceedings increased 24% to 323 cases in 2023, and disposals increased by 45% to 520 cases, it said.Insolvency proceedings awaiting hearing or judgment increased by 6%, or 30 cases in 2023, compared to 2022, it said.“Insolvency work reflects the state of the economy, with a slight l...

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