Rise in Private Insolvencies in 2011

BusinessEconomy ♦ Published: January 5, 2012; 18:41 ♦ (Vindobona)

Austrian private insolvencies rose by 4.0% in 2011. 9,600 persons were concerned.

Rise in Private Insolvencies in 2011 / Picture: © Vindobona.org

ASB Schuldnerberatungen, the head organization of debt Austrian counseling agencies counted 9,600 cases of private insolvencies in 2011. ASB claims a reform of the private insolvency law in order to give debtors the “chance for a re-start”. Private insolvency applications should be treated faster, Austria “must not be the European tail-light”, Hans Grohs, CEO of ASB says. A…