Less families and companies filing for bankruptcy

The number of Balearic families and businesses which  filed for bankruptcy in  the first three months of this year has declined by  85 percent compared with 2013.

Palma.—Up until March, 57 bankruptcy procedures were filed in the region according to a report published yesterday by the National Statistics Institute.
Out of the 57, eight belong to families and the remaining 49 to different businesses.
Over three quarters of those were Limited Societies with the others belonging to  Anonymous Societies.
The report also showed 51 processes were filed voluntarily and six were “necessary”.
Despite the severe recession the Balearics and the whole country is currently  suffering, the results were received as positive news.
The main reason being not only the major decline in the number of bankruptcy processes filed but the results derived from that.
The Balearics are now Spain’s top community in terms of recovery from this unpleasant list.
Asturias with a reduction of 57.6 percent and Aragon with 46.2 percent took second and third place.