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Bankruptcies in Poland up by 15%



Harry 79 | 13,373    
17 Jul 2017  #1

Remember hearing that Poland's economy is now at its strongest ever as a result of the 'good' changes introduced by the 18% regime? It turns out that that was not entirely true:

Company bankruptcies have risen 15 percent in Poland in the first six months compared to the same period last year, according to a report.

Credit insurance company Euler Hermes said that 418 companies folded in the first two quarters, up from 362 during the same period in 2016.
In June, 71 companies were declared insolvent, up from 60 in the same month last year.

Full article here: /1/12/Artykul/316278,Bankruptcies-in-Poland-rise

With the clear message currently being sent to investors that the rule of law in Poland is now over and has been replaced by the rule of the Party under which any judge who gives a decision which is unfavourable to the Party can be fired and the case heard again before a judge handpicked by the Party, it's hard to see how the economic situation here will get better any time before the rule of law is re-established here.


jgrabner 1 | 26    
17 Jul 2017  #2

the comparable figures for Germany and Austria are 10,300 and 2,574
creditreform.de/nc/aktuelles/news-list/details/news-detail/insolvenzen-in-deutschland-1-halbjahr-2017.html
ksv.at/insolvenzstatistiken

for the UK, I have only 1Q2017: 3,967:
gov.uk/government/uploads/system/uploads/attachment_data/file/611370/Q1_2017_statistics_release_-_commentary.pdf

418 in Poland for half a year? With 1/2 and 5 times the size of Germany and Austria, a number around 5,000ish would be plausible. 418 is not possible, there is something wrong with that number.

Could it be that they are not counting the rejected petitions for grounds that the debtor's assets were insufficient for the payment of the expenses of liquidation? These are usually the bulk of petitions but not counting them (although no formal declaration of insolvency is issued) makes the number useless because a rise in this number could actually indicate an improving situation.
NoToForeigners 7 | 824    
17 Jul 2017  #3

And again the idiot got obliterated in his own thread lololo
TheOther 5 | 3,023    
17 Jul 2017  #4

418 is not possible, there is something wrong with that number.

What's the total number of companies in Poland and in Germany? Compare those two and then see if the number of insolvencies make sense.



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