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|Seven good years for business judgments|
|Thursday, 04 August 2016|
The number of debt judgments against businesses in England and Wales fell for the seventh consecutive year in the first half of 2016, according to figures released today by Registry Trust.
Registry Trust is the non-profit organisation which collects judgment information from jurisdictions across the British Isles and Ireland. In England and Wales, it operates the Register of Judgments, Orders and Fines on behalf of the Ministry of Justice. A judgment is incontrovertible proof of unmanaged debt.
There were 42,091 county court judgments (CCJs) recorded against businesses in England and Wales during the first six months of 2016, a year on year fall of 19 percent. The total value of CCJs was £149m, a decrease of 12 percent. As the total number and value of CCJs fell to its lowest since before the financial crisis, the average value rose by eight percent to £3,550.
The trends for CCJs against corporate and non-corporate businesses were broadly consistent, but the average value of a CCJ against a generally smaller unincorporated enterprise fell five percent compared with a 19 percent increase for a judgment against a corporate.
The number of high court judgments fell by 50 percent compared with the first half of 2015 to 33. With the total value rising 36 percent, the average value increased 27 percent to £644,000.
“Up to Brexit businesses have been doing consistently well,” said Registry Trust chairman Malcolm Hurlston CBE. “This has been a long and cautious spell of recovery.”
In the first six months of 2016 Registry Trust received 76,910 requests to search the register for England and Wales, the bulk of which were made online at www.trustonline.org.uk. TrustOnline allows anyone to search for judgments and similar information registered against consumers and businesses in any jurisdiction across the British Isles and Ireland. “It is a unique benefit for consumers to be able to check the judgment record of any person or business with which they may be transacting,” said Mr Hurlston. “Negative information should give pause for thought.”
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