Trend reversal also in personal bankruptcies
The trend reversal that took place at the end of the year also continued in the case of private insolvencies, although the pre-crisis level has not yet been reached here. According to the KSV1870 insolvency projection, 2,135 debt settlement procedures were opened in Austria in the first quarter of 2022, which corresponds to an increase of almost 20 percent compared to the first quarter of the previous year. Compared to 2019, the last “normal year” before the corona pandemic, this means a decrease of 14.3 percent. The preliminary liabilities increased by 35.9 percent to 269 million euros.
