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12.3% more corporate insolvencies in March 2024 compared to the same month last year

The trend in insolvencies in Germany has seen significant momentum since the beginning of 2024. Following the expiry of government aid measures introduced during the COVID-19 pandemic, insolvency figures returned to pre-pandemic levels. According to the Federal Statistical Office, the number of company bankruptcies rose significantly in the first quarter of the year compared to the same period last year: 26 percent in January, 18 percent in February and 12.3 percent in March.

According to the Leibniz Institute for Economic Research Halle (IWH), high insolvency figures can also be expected in April 2024, although early indicators point to a gradual easing thereafter.

The rising insolvencies have also drawn attention to the role of virtual data rooms (VDRs). Virtual data rooms provide a platform for the secure exchange of confidential information and documents, which is particularly important in insolvency proceedings. They enable the efficient and transparent handling of insolvency processes by facilitating access to necessary documents for the parties involved, such as insolvency administrators, creditors, investors and legal advisors, without the need for a physical presence. This is particularly relevant as insolvency proceedings become more complex and global, with parties often based in different locations. At a time when the number of insolvencies is increasing, the importance of VDRs as a tool for optimizing business operations and minimizing risks is becoming increasingly clear.

We will be happy to advise you on how the netfiles data room can support you in insolvency proceedings. Contact us right here.