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|Business "in fine fettle" post Brexit as CCJs plunge|
|Tuesday, 07 February 2017|
The number of county court judgments (CCJs) against businesses in England and Wales fell to the lowest level on record during 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.
CCJs registered against businesses in England and Wales fell 21 percent to 78,739 in 2016, continuing a six-year downward trend.
In the second half of 2016 there were fewer CCJs against businesses than in any other half-year on record, suggesting businesses have been managing their debts better since the vote to leave the European Union on June 23.
The total value of business CCJs fell 17 percent to £278m, while the average value of a business judgment rose by five percent to £3,535.
The trends between incorporated and generally smaller unincorporated businesses were broadly consistent. The main difference was that the average non-corporate CCJ fell by 9 percent, more in line with value trends for consumer judgments.
Judgments against businesses in the High Court similarly fell to a record low, with only 71 registered in 2016. The average value, however, rose 155 percent to almost £2m.
“Facing the uncertainties of Brexit, business in England and Wales gives every impression of being in fine fettle,” said Registry Trust chairman Malcolm Hurlston CBE. “If there was any expectation of immediate difficulty the judgment information points if anything in the opposite direction.”
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