A total of 165 families and companies of the Valencia Region have been declared insolvent during the last trimester of 2009, which represents an increase of 52.7% with regard to the same period of 2008, and this situates Valencia, after Catalonia, as the second region with the highest amount of insolvency procedures.

These data have been revealed by the Insolvency Statistics published last Thursday by the National Institute of Statistics. Moreover, these statistics have shown that 1,095 insolvency procedures have been filed in Spain, which represents an increase of 29%.

On the other hand, these Statistics have shown that of the total amount of insolvency procedures filed in Valencia, 160 were voluntary, and 5 were forced. In the same period last year, a total of 105 were voluntary and only 3 were necessary.

Moreover, Valencia, together with Catalonia, Madrid and Andalusia counted for 52.3% of the total amount of insolvencies. On the other side, the regions with less insolvency procedures were La Rioja (3 procedures), Extremadura (7 procedures) and Asturias, Navarra and Cantabria (16 procedures each).