Increase in Bankruptcies in Grand Duchy

During 2016, the number of companies filing for bankruptcy increased 12% on the 2015 figure to 983, with the majority being in the service sector.

The cases included those applying for voluntary liquidation, via the Cession de Paiements procedure available here in Luxembourg. The majority were heard in the District Court in Luxembourg city, with the others heard in the District Court in Diekirch.

Back in 2013, however, 1,047 bankruptcies were processed, an all-time record (the 2012 figure was also above 1,000).