There was a 15 percent rise in the number of county court judgments (CCJs) registered against businesses, according to figures released today (11th December 2019) by Registry Trust.
With the total value of the 37,585 CCJs hitting £106.1million, the third quarter of 2019 saw a rise of six percent on last year’s figures.
This was largely due to a 22 percent rise in the number of CCJs against corporate businesses. The increase to 29,571 records was followed by the total value increasing by 7 percent to £82.5million.
The average value of a business CCJ in Q3 2019 fell to £2,824, eight percent lower than Q3 2018, while the average value of a CCJ against corporate companies decreased by 12 percent to £2,790.
The total number of CCJs against non-corporate businesses at 8,014, was down four percent from 2018’s 8,382, however with claimants taking out higher value judgments against non-corporate businesses, the average value rose by seven percent to £2,950.
Registry Trust is the Registrar of Judgments, Orders and Fines in England and Wales (on behalf of the Ministry of Justice). In addition, it collects court judgment information across the UK and Ireland.
In contrast, only six commercial judgments were issued in the High Court of England and Wales in the third quarter of 2019, a 76 percent decrease from Q3 2018. The drop in number of registered judgments saw the total value decreasing dramatically from £35.2million in Q3 2018 to £869,696 in Q3 2019, a drop of 98 percent.
The average value fell from £1,406,292 in the third quarter of 2018 to £144,949 in the same period of 2019, a decrease of 90 percent and for the first time in over 10 years there were no HCJs registered against non-corporate businesses.
Mick McAteer, chairman of Registry Trust said: “Access to trustworthy judgment data is important for good business decision-making. Public data on judgments also provides an important indicator of the state of the economy. The fact that the number and total value of judgments against businesses rose significantly in the third quarter of 2019 will cause concern and will need to be monitored closely”.