Bankruptcies down in first nine months

Eighty-two companies were declared bankrupt in the first nine months of the year but they were not expected to exceed the figure for the entire year in 2015.

Voluntary liquidations were on the rise however, with 1,532 between January and September this year. Until 2011, voluntary liquidations maintained remained stable under 1,000.

According to the company registrar, 136 liquidation orders had been issued in 2015, 163 in 2014, and 189, in 2013.

The highest number of bankrupt companies recorded in previous years was 190. The lowest, 87, was recorded in 1997.

The number of individuals who went bankrupt was 38, in the first nine months, lower than the 80 during 2015.

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.