The number of county court judgements recorded against businesses has fallen to the lowest level since the 2008 financial crash, according to new figures.
During the first quarter of 2016 only 21,860 county court judgements were recorded against businesses in England and Wales – down 17 per cent from the same period last year – making it the lowest level since the high of 71,867 recorded in the first quarter of 2009.
Non-profit organisation, Registry Trust, has collated the data and has found that the total value of county court judgments was £78 million, down 11 per cent from £87 million in the first quarter of 2015, while the average value increased six per cent to £3,554.
The number of High Court judgments against businesses also dropped, falling 47 per cent year on year to 2016, while the total overall value fell slightly by two per cent to £16.5 million, with the average value jumping 85 per cent to just over £1 million.
This decline in the number of county court judgements shows that creditors appetite to take legal action against those that owe them money has declined, which could create a significant dip in fee income for those firms that regularly represent clients during CCJ hearings. To find out how our team at Moore Thompson can help, please contact us.