- by JP Wickremasinghe on 12/09/2017

Overview:

The number and value of bad debt judgments, awarded in the first eight months of this year, is down on the figures for the same period in 2016 - however, current figures are still substantial and warrant review.

1,838 judgments were awarded against companies and consumers between January and August of 2017 failure to repay debts (down 11.5% on the same period last year - 2,076) - these awards totalled €132.9m which is down 27% on the same period in 2016 (€181.4m).

Consumer Judgments:

1364 of this year's judgments (74%) were awarded against consumers - these judgments have a value of €117m - 88% of the total value of judgments awarded (an average value of almost €86k per judgment). This compares to 1,455 separate judgments worth €160.5m awarded against consumers in the first eight months of 2016.

866 of the judgments against consumers were awarded to the office of the Revenue Commissioner and are valued at €29.8m. Banks received a further €64m in 115 separate judgments against consumers - an average of almost €577k per award.

Industries with the most judgments awarded in their favour are as follows:

  1. Revenue Commissioners: 866 judgments worth €29.8m
  2. Banking: 115 judgments worth €64m
  3. Local Authorities: 109 judgments worth €0.65m
  4. Credit Unions: 96 judgments worth €2.2m
  5. Utilities: 28 judgments worth €0.1m

Corporate Judgments:

474 judgments were awarded against companies between January and August of this year - these had a combined value of €15.9m. 199 of these judgments were awarded to Local Authorities (City & County Councils etc).

€6.8m in corporate bad debt judgments were awarded to companies in the wholesale & retail sector in 40 separate cases.

The industries with the most corporate judgments awarded in their favour are as follows:

  • Local Authorities: 199 judgments worth €1.6m
  • Revenue Commissioners: 81 judgments worth €2.4m
  • Wholesale & Retail: 40 judgments worth €6.8m
  • Manufacturing: 37 judgments worth €0.14m
  • Professional Services: 33 judgments worth €0.2m
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