The Valencia Community recorded 697 insolvency proceedings until October, 152% more than the same period in 2008, according to the 'corporate Radar' performed by Axesor.
This volume is the second highest of Spain, after Catalonia, with 1037 cases and an increase of 137%. In Spain, the total reached 4225, (+129%).
The construction sector, with 1454 cases, and the manufacturing sector, with 958 cases, counted for almost 60% of the insolvency procedures registered in Spain.

Source Las provincias

The affected creditors of Afinsa will receive a maximum of 33% of money invested. As reported by the High Court of Madrid, the holder of the court, Francisco Javier Vaquer, however temporarily suspends the obligation of the receivers to present a plan to sell the assets of the company and to begin to pay the 190,666 creditors.