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22/04/2010
Northern Court Judgments Down
Buisness research company, ICC Information has revealed that the value of Court Judgments (CJs) against companies in Northern Ireland for the recovery of unpaid debt has fallen for the second quarter in a row.
While the figures indicate that the recession may well be on its way out, the year on year figures for Q1 2010 against Q1 2009 shows an increase of 11.5%.
Once again, the construction sector accounted for the largest number of Court Judgments filed with 31% and totalling £218,040, whilst further reinforcement of the difficult year in the housing market is reflected in the £126,117million worth of CJ’s in Real Estate and Renting.
Antrim-based companies accounted for the majority of CJs with 38% followed by Down with 23%. Armagh-based companies were the lowest offenders with 6% and totalling just under 50K.
"Court Judgments are a massive indicator of a company’s health, but also of the economy’s health," said Michael Gannon, Head of Business and Account Development at ICC Information.
"Seeing a fall in the value of Court Judgments for the second quarter in a row is a great sign for the economy in Northern Ireland, and hopefully we will see further falls in the coming quarters."
"However, it is only one indicator of a company’s financial health, and as an extension of the local economy, and the fall may also be a result of falling trading conditions in 2009 as the market corrects itself."
(NS/GK)
While the figures indicate that the recession may well be on its way out, the year on year figures for Q1 2010 against Q1 2009 shows an increase of 11.5%.
Once again, the construction sector accounted for the largest number of Court Judgments filed with 31% and totalling £218,040, whilst further reinforcement of the difficult year in the housing market is reflected in the £126,117million worth of CJ’s in Real Estate and Renting.
Antrim-based companies accounted for the majority of CJs with 38% followed by Down with 23%. Armagh-based companies were the lowest offenders with 6% and totalling just under 50K.
"Court Judgments are a massive indicator of a company’s health, but also of the economy’s health," said Michael Gannon, Head of Business and Account Development at ICC Information.
"Seeing a fall in the value of Court Judgments for the second quarter in a row is a great sign for the economy in Northern Ireland, and hopefully we will see further falls in the coming quarters."
"However, it is only one indicator of a company’s financial health, and as an extension of the local economy, and the fall may also be a result of falling trading conditions in 2009 as the market corrects itself."
(NS/GK)
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