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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
volume 595 565 -5.04%
total value €28,440,399 €25,947,064 -8.77%
Average* value €47,799 €45,924 -3.92%
median €11,730 €7,827 -33.27%
Judgments against businesses
volume 112 252 125.00%
total value €1,637,626 €3,826,317 133.65%
Average* value €14,622 €15,184 3.84%
median €7,964 €6,387 -19.80%

For more information please contact

f.byrne@registry-trust.org.uk

+44 207 391 7287

www.registry-trust.org.uk

Notes for editors

Irish Judgments is part of Registry Trust, a non-profit company established in 1985. Registry Trust maintains public records of judgment and decree information for all jurisdictions in the British Isles and Ireland.

Irish Judgments holds a public register of judgments registered at the Four Courts in Dublin.

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 debt in Ireland.

Judgments can be removed from the register if paid in full within one calendar month of the issue date and Irish Judgments is informed, but will otherwise remain registered for six years. If fully paid outside the one calendar month, the defendant can apply to have the judgment marked as ‘satisfied’ to improve their credit rating.

Anyone may search for entries against a named person or business at a stated address or a corporate body in the Republic of Ireland, Northern Ireland, Scotland or England and Wales by visiting Registry Trust’s website www.trustonline.org.uk or by writing to Irish Judgments at Irish Judgments, Ulysses House, Foley Street, Dublin 1.