Business news from Ukraine

Business news from Ukraine

Over past four months, number of bankrupt people in Ukraine has almost doubled

More than half of the bankrupts are Ukrainians aged 25 to 45

651 bankruptcy cases are currently open, according to the Supreme Court of Ukraine. The number of cases has almost doubled in the last 4 months of this year. The largest number of bankrupts is in Kyiv and its region and in Dnipropetrovs’k region. 64% of bankrupts are people aged 25 to 45.

651 bankruptcy cases have been opened in Ukraine this year. The number of cases has almost doubled since the beginning of summer.

So far, more bankruptcy cases have been opened against Ukrainians than in the whole of last year: 575 such cases were considered then.

Most often, people aged 25 to 45 apply to be declared insolvent – 64.1% of bankrupts. Another 28.7% are over 45 years old.

51% of bankrupts are women, and another 48% are men.

Most bankrupts are in the capital: 95 cases or 15% of the total number. Kyiv region follows with 58 or 9%. Dnipropetrovs’k region closes the top with 53 cases, which is 8% of the total.

Denys Lykhopiok, Insolvency Receiver, believes that the current dynamics is most likely a “pent-up demand” rather than a rapid growth caused by any one factor.

“It should be understood that at the beginning of the full-scale war, people did not have time to deal with debts – they were prioritizing survival.

At the same time, there was a moratorium on the collection of most debts in enforcement proceedings for more than a year. Even after the moratorium was lifted, private and public bailiffs reminded debtors of their obligations. This may have been the driving force that prompted people to seek a solution to their debts through insolvency proceedings.

In addition, Ukraine is already developing a positive judicial practice in bankruptcy matters,” comments Denys Lykhopiok, attorney at law, insolvency officer, member of the Qualification Commission of Insolvency Officers, and bankruptcy specialist.

Context.

The Verkhovna Rada allowed citizens to become bankrupt back in October 2018. The procedure became fully operational in 2019. Since then, a person in a difficult financial situation can initiate bankruptcy and, after going through the entire procedure, get rid of debts.

https://opendatabot.ua/analytics/people-bankrupts-2024-10

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