Slight Rise in Insolvencies

BusinessEconomy ♦ Published: March 29, 2011; 01:17 ♦ (Vindobona)

Austria's Credit Protection Association calculated an increase of total insolvencies by 0.7% in its preliminary statistics for the first quarter of 2011.

Slight Rise in Insolvencies / Picture: ©

Projected insolvency figures for the first quarter are a cause for cautious optimism. Rapid growth continues to stay away, and insolvency occurrence is only slightly above last year's figures.

Insolvency proceedings opened in the first quarter, are about 900, i.e. about 4% above the first quarter of last year. Proceedings not opened because of lack of assets decreased however by…