Bankruptcies, Q2 2002

For the first time since 1993, there were over 2 000 bankruptcy proceedings during the first six months of 2002, with 2 174 bankruptcy proceedings. The large increase came mainly during the second quarter of 2002. Compared with the second quarter 2001, bankruptcy proceedings went up by 40 per cent, to 1 196.

There have been 111 bankruptcy proceedings within the ICT sector this year, compared with 94 during the first six months of 2001. The industry for real estate, renting and business activities had an increase of bankruptcy proceedings by 40 per cent [corrected 25.07 at 13:30] compared with the fist half of 2001 to 249 bankruptcy proceeding [corrected 25.07 at 13:30] during the first half of 2002.

Increase in Oslo and Rogaland

Out of the 19 counties in Norway, 11 experienced more bankruptcy proceedings during the first half of 2002 compared with the corresponding period last year. Rogaland had the largest increase by 63 per cent, to 153 bankruptcy proceedings. The number of bankruptcy proceedings in Oslo rose by 40 per cent to 480. Oppland and Telemark had a reduction of 29 and 26 per cent respectively.

Moderate increase in personal bankruptcies

There has been an increase in personal bankruptcies of 6 per cent [corrected 25.07 at 13:30] during the first half of 2002 compared with the corresponding period last year. The share of the total number of personal bankruptcies was 40 per cent, being the largest share of the total number of bankruptcy proceedings.

Tables:

• Table 1 Bankruptcy proceedings, by quarter and county. 2001-2nd quarter 2002
• Table 2 Monthly bankruptcy proceedings. 1992-2nd quarter 2002
• Table 3 Bankruptcy proceedings, by industry. 2. quarter 2001 and 2002