Bankruptcies

Producer: Statistics Finland
Homepage: http://www.stat.fi/til/konk/index_en.html
Main topic: Justice
Related topics: Enterprises
Official Statistics of Finland (OSF): Yes
European Statistical System (ESS): No

Description

Statistics Finland publishes statistics on the bankruptcy cases instigated and decided by district courts. In these statistics, instigated bankruptcy cases refer to bankruptcy petitions filed during the year by enterprises, corporations or natural persons. The first bankruptcy petition filed in the calendar year is recorded in the statistics as an instigated bankruptcy case. Other petitions filed during the calendar year concerning the same enterprise, corporation or natural person only show in decided cases in these statistics. Several creditors can file a bankruptcy petition against the same enterprise during the year. The number of petitions is always higher than the number of instigated bankruptcy cases in these statistics. Single-establishment enterprises are classified in the regional data of bankruptcy statistics according to the municipality of location of the establishment. Those multiple-establishment enterprises whose activity all takes place in the same municipality are also classified according to the municipality of location of their establishments. Enterprises operating in several municipalities are classified according to their municipality of domicile. In other cases the region is determined by the municipality of domicile of the debtor. Data concerning the establishments and municipalities of domicile of enterprises are derived from Statistics Finland’s Business Register. Threatened workplaces refer to the number of workplaces in the enterprises against which bankruptcy petitions have been filed.

Data content

Statistics on bankruptcy cases instigated and decided by district courts. The central data in the statistics describe the number of bankruptcy cases instigated per month by industry, region and size of company’s personnel. The main data concerning decisions on bankruptcy petitions describe decisions on petitions by district court and by industry. The data are not public and the information systems contain identifying data (e.g. names of enterprises) that may not be disclosed.

Classifications used

Region, municipality, court of law. Statistics Finland's Standard Industrial Classification.

Data collection methods and data sources

Statistics Finland receives data via the Ministry of Justice on bankruptcy petitions received by district courts monthly. The data are total data.

The data are received from the case management system of district courts that was introduced on 1 December 1993. At Statistics Finland, the enterprises or entrepreneurs against whom petitions have been made are combined with background data from Statistics Finland’s Business Register on e.g. their establishments, industries or numbers of employees.

Updating frequency

Monthly on filed petitions. Once a year on concluded bankruptcy cases.

Time of completion or release

The statistics on filed petitions are published with a lag of six weeks from the end of the month in which the petitions were filed. The statistics on concluded cases are published with a lag of 4.5 months from the end of the statistical reference month.

Time series

Bankruptcy cases instigated monthly starting from 1986.

Keywords

bankruptcy, business enterprises, industries

Contact information

http://tilastokeskus.fi/til/konk/yht_en.html


Last updated 16.09.2011