The prolongation of the European debt crisis is hindering the capacity for companies to address damages and is exacerbating negative ratings. The escalation of creditors meetings has peaked; during the first two quarters we have passed the highest levels seen since the full-scale recession of 2009.
In the second quarter, the meetings have increased by 19.7%. Results affecting European economies have grown by a more moderate 1.8%. The construction and real estate sectors comprise a third of the creditors meetings.
In Q2 the company damages have decreased slightly since Q1, from 3.7% to 1.5% inchoate legal proceedings. That said, the number of cases in which EU economies are involved has risen by 10.4% to 277 in total.
The majority of the cases were opened voluntarily (1,692), which represents an increase of 18.3% compared to last year. Obligatory cases have risen by 79 cases, a significant drop of 12.2%. As soon as proceedings continue with their inquiries, the majority (1,663 cases, a 21.8% increase) of abbreviated proceedings will be accepted as much as ordinary proceedings, of which there have been 108 cases, or 30.3% more.
Within the body of companies under review, the most numerous group (77.2%) is comprised of limited liability companies; this is a 19.6% increase since last year. Public limited companies make up 16.3% of the companies, with 245 cases and an increase of 30.3%. On the contrary, individual entrepreneurs account for 65 cases, which is 4.3% of the total number and a 7.1% drop.