Judgments against businesses in England and Wales jumped nearly a third during the third quarter of 2018, compared with the same period a year ago, according to figures released by Registry Trust.
Registry Trust is the Registrar of Judgments, Orders and Fines in England and Wales (on behalf of the Ministry of Justice). In addition, it collects, verifies and publishes judgment information from jurisdictions across the British Isles and Ireland.
During Q3 2018, there were 32,629 CCJs against businesses in England and Wales, 32 percent more than in Q3 2017.
The total value of business CCJs rose by 24 percent to £100,223,291; building on last year’s Q3 increase rate by a further 11 percent.
The average value of business judgments decreased six percent to £3,072 giving a historic Q3 low. This follows the general pattern for the last seven years, where, except for Q3 2016, average values have fallen.
The extent of the increase in business judgments was largely down to a 47 percent rise, to 24,249, in the total number of CCJs registered against companies. There was a smaller increase of two percent, to 8,380, in CCJs against the generally smaller unincorporated businesses over the same period.
The number of high court judgments against businesses rose to 25 and there was a massive increase (3275 percent) in their value to £35,157,304. The average value hit a record Q3 high at £1,406,292, a 1790 percent rise on 2017. However, this was heavily affected by a single judgment of £22,745,726 plus four judgments of £1,635,824 each. The huge increases reflect also last year’s record lows for a third quarter. (The 2018 average value was up only 39 percent on 2016 levels).
CCJs against all businesses Q3 2018 (Compared with Q3 2017)
- Total number: 32,629 (up 32 percent)
- Total value: £100.2m (up 24 percent)
- Average value: £3,072 (down six percent)*
- Median: £960 (down 23 percent)
CCJs against incorporated businesses Q3 2018 (Compared with Q3 2017)
- Total number: 24,249 (up 47 percent)
- Total value: £77.2m (up 36 percent)
- Average value: £3,183 (down seven percent)*
- Median value: £902 (down 32 percent)
CCJs against unincorporated businesses Q3 2018 (Compared with Q3 2017)
- Total number: 8,380 (up two percent)
- Total value: £23m (down three percent)
- Average value: £2,749 (down five percent)*
- Median value: £1,117 (up three percent)
High Court judgments against businesses Q3 2018 (Compared with Q3 2017)
- Total number: 25 (up 79 percent)
- Total value: £35.2m (up 3275 percent)
- Average value: £1,406,292 (up 1790 percent)*
- Median: £88,261 (up 469 percent)
High Court judgments against businesses Q3 2018 - Adjusted (Compared with Q3 2017)
- Total number: 20 (up 43 percent)
- Total value: £5,868,282 (up 463 percent)
- Average value: £293,414 (up 294 percent)*
* Average value refers to the ‘mean’. The mean average tends to be higher than the median, as it is more distorted by outlying, high value cases.
On behalf of TrustOnline, Malcolm Hurlston CBE, chairman of Registry Trust said: “Some businesses, and limited companies especially, suffered a sharp shock this quarter. “
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