JUDGMENTS AGAINST IRISH BUSINESSES MORE THAN DOUBLE IN Q1 2020
The number and total value of judgments registered against Irish businesses more than doubled in Q1 2020 compared to the same quarter last year, figures released today by registrar Irish Judgments show.
Irish businesses owed €3,826,317 in Q1 2020, a rise of 134% compared to the same period of 2019. The number of judgments saw a similar rise of 125%, increasing from 112 in Q1 2019 to 252 in Q1 2020
Consumers fared better this quarter, with the total number of judgments dropping five percent compared to Q1 2019. The total value of registered debt owed by consumers in Q1 2020 was €25,947,064, compared to €28,440,399 in Q1 2019, a fall of nine percent.
The average value of consumer judgments registered also fell, by four percent. The median value fell significantly by 33 percent suggesting that there was a larger number of smaller judgments registered.
Mick McAteer as Registrar commented: “The latest data on judgments registered against Irish businesses in this quarter suggests a fragility in the business sector even before the full economic impact of Covid19 pandemic is felt. Consumers fared better in this quarter but with forecasters expecting significant damage to the Irish economy, household finances face a significant hit”.
|Q1 2019||Q1 2020||Change (compared with 2019)|
|Judgments against consumers|
|Judgments against businesses|