7 March 2007, 13:22  German corporate insolvencies in December fell 14.4% yr/yr

German corporate insolvencies in December fell 14.4% on the year, Germany's Federal Statistics Office said Wednesday. A total of 2,515 companies filed for insolvency in December, continuing the two-year downward trend in corporate insolvencies in Germany, the statistics office added. In 2006, corporate insolvencies fell 17% to 30,562. However, insolvencies of private households continued to increase. In December, household - or consumer - insolvencies, increased 27.7% on the year to 9,016. In 2006, household insolvencies rose 35.3% from 2005 to 93,242. Total insolvencies in December, including businesses, consumers and the formerly self-employed, rose 12.9% to 14,372, and in 2006 rose 14% compared with 2005 to 155,862. Total claims for creditors for unpaid debts declined in 2006 to EUR33 billion from EUR36 billion in 2005. Company insolvencies account for about 60% of all claims, but only one-fifth of all German insolvencies.

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