Corporate bankruptcy cases reach 81 in November: Cabinet
Information and Decision Support Center headquarter in Cairo - Photo courtesy of egyptindependent

CAIRO: There were 81 corporate bankruptcy cases considered by primary courts in November, marking a 24.6 percent increase, compared to the corresponding month in 2012, the Cabinet’s Information and Decision Support Center announced Thursday.

Additionally, the final verdicts issued by appeal courts recorded 12 bankruptcy cases in November, compared to four cases during November in 2012, IDSC added in its monthly bulletin for economic and social indicators.

IDSC further noted that the number of established capital companies rose to 8,512, registering a 8.5 percent up last year, against 7,847 companies in 2012.

However, the issued capital of corporations established in 2013 dropped by14.4 percent, totaling 10.3 billion ($1.5) EGP, compared to 11.9 billion EGP during 2012.

Originally published in Youm7.

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