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Figures show 33 declared bankrupt in Q4

There were 33 bankruptcy adjudications in Q4 last year, up from eight in Q3 and 29 in Q2, according to a statistical report from the Insolvency Service of Ireland (ISI).

There were 301 new applications for bankruptcy in Q4 – down from 360 in Q3.

A total of 259 debt arrangements were approved in Q4 – up from 221 in Q3.

Arrangements approved were up 17% on Q3.

There was a total of 105 bankruptcies in 2022, which represents a 47% decrease on 2021.

2014 saw 448 bankruptcies, while 2015 had 479, and 2016 saw 526 people enter bankruptcy, with a drop to 473 in 2017, and a further drop to 397 in 2018.

Awareness

“The ISI is currently undertaking an awareness campaign about insolvency solutions in Ireland”, ISI director Michael McNaughton said.

The total debt involved in the 301 new cases created in Q4 is approximately €141.6 million.