Economy

Bankruptcies in the Canary Islands double in the second semester

Between April and June of this year, this type of lawsuit increased by 113.8% in the archipelago, the largest increase after those registered in Catalonia and Madrid

EFE-EKN

Bankruptcy filings double in the Canary Islands

The judicial bodies of the Canary Islands registered a total of 573 claims for bankruptcy during the second quarter of 2023, 113.8% more than in the same period of 2022, according to data released this Friday by the General Council of the Judiciary (CGPJ) in a statement.

The report "Effects of the economic crisis on the judicial bodies", from the statistics section of the CGPJ, shows that the growth of the old bankruptcies in Spain was 107.1%, so in the islands they increased by 6.8% more than the average for the State between last April and June.

With the data handled by the Council, the Canary Islands was the third community with the highest percentage increase in bankruptcy petitions, after Catalonia and Madrid.

Between April and June of this year, the Canary Islands also occupied third place in volume of bankruptcies per 100,000 inhabitants: 25.9, a figure only surpassed by Catalonia (51.6) and Valencia (27.8).

The segment where the economic crisis caused the most havoc last spring in the islands was that of "non-business natural persons", that is, ordinary citizens, since if between April and June 2022 in this area 194 bankruptcy filings had been registered, in the same period this year the figure rose to 510, 162.9% more.

This implies a rate of 23 bankruptcies of this nature per 100,000 inhabitants, the second highest in Spain, behind Catalonia (36.4) and ahead of Murcia (20.6).

The lowest rate corresponded to the Principality of Asturias and Cantabria, both with 12.9 bankruptcies of non-business natural persons per 100,000 inhabitants.

Regarding bankruptcies of legal entities, in the second quarter of 2023, 47 cases were recorded in the courts of the islands, 2.1% less than in the same period of 2022.

And the data referring to bankruptcies of business natural persons reflect a decrease of 38.5%, from 26 cases in the second quarter of 2002 to 16 in that of 2023.

Lawsuits for claims of quantity decreased in the islands by 5.3% last spring: from 2,181 in the second quarter of 2022 to 2,005 in that of this year.

In the monitoring procedures (special procedures provided to claim liquid, determined, overdue and enforceable monetary debts, when said debts are stated in some type of document) an increase of 42.4% was recorded in the archipelago, going from 14,083 cases between April and June 2022 to 20,659 last spring.

This figure puts the Canary Islands at the head of the country in the number of monitoring processes per 100,000 inhabitants: 906.5, ahead of Madrid (775) and the Balearic Islands (697).