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DEBT JUDGMENTS ISSUED AGAINST CONSUMERS AND BUSINESSES IN THE ISLE OF MAN SEE LARGE FALLS IN FIRST QUARTER 2021 COMPARED TO SAME PERIOD LAST YEAR

The number and value of judgments issued in the Isle of Man Courts of Justice against consumers fell sharply in the first quarter of 2020 (Q1 2021) compared to the same period last year, according to data published today [16.04.2021] by Registry Trust.

The total number of judgments issued against consumers in Q1 2021 was 55, a fall of 35 percent compared to the 85 in the same period in 2020. The value of judgments issued against consumers fell by two-thirds from nearly £719,671 to just £240,795. The average value fell by nearly half from £8,467 to £4,378. The median also fell, but by less, from £718 to £620, a fall of 14percent.

Judgments against Isle of Man businesses also saw steep falls. The numbers of judgments against businesses fell from 19 in Q1 2020 to just three in Q1 2021, a fall of 82 percent.

Judgment activity against businesses in the Isle of Man was almost non-existent in the quarter. The value of business judgments registered in Q1 2021 was just £5,333, down 99 percent from the £372,411 in Q1 2020. The average value of business judgments fell by 91 percent, from £19,601 to £1,778, with the median dropping by 35 percent from £1,864 to £1,200.

Registry Trust Chair, Mick McAteer, said: The latest data would suggest that consumers and businesses have been shielded from the full effects of the economic shocks caused the Covid-19 pandemic. The protections provided by policy and regulatory interventions, and creditor forbearance, meant judgment activity entered a state of almost suspended animation since the pandemic hit. That may change as protections are unwound, and numbers are higher than the lows seen in Q2 2020.”

Q1 2020 Q1 2021 Change (compared with 2020)
Judgments against consumers
volume 85 55 -35.29%
total value £719,671 £240,795 -66.54%
average* value £8,467 £4,378 -48.29%
median value £718 £620 -13.65%
Judgments against all businesses
volume 19 3 -82.21%
total value £372,411 £5,333 -98.56%
average* value £19,601 £1,778 -90.93%
median value £1,864 £1,210 -35.08%
Judgments against incorporated businesses
volume 16 2 -87.50%
total value £365,705 £4,636 -98.73%
average* value £22,857 £2,318 -89.85%
median value £2,005 £2,318 15.64%
Judgments against unincorporated businesses
volume 3 1 -66.66%
total value £6,706 £697 -89.61%
average* value £2,235 £697 -68.82%
median value £80 £697 771.25%
Satisfactions
volume 79 39 -50.63%
total value £127,640 £77,374 -39.38%
average* value £1,616 £1.984 22.79%
median value £779 £628 -19.38%

For more information please contact

press@registry-trust.org.uk

+44 207 391 7287

www.registry-trust.org.uk

Notes for editors

Irish Judgments is part of Registry Trust, a non-profit company established in 1985. Registry Trust maintains public records of judgment and decree information for all jurisdictions in the British Isles and Ireland.

Irish Judgments holds a public register of judgments registered at the Four Courts in Dublin.

The figures are based only on judgments registered at the request and cost of creditors at the Four Courts in Dublin and therefore provide only a partial picture of debt in Ireland.

Judgments can be removed from the register if paid in full within one calendar month of the issue date and Irish Judgments is informed, but will otherwise remain registered for six years. If fully paid outside the one calendar month, the defendant can apply to have the judgment marked as ‘satisfied’ to improve their credit rating.

Anyone may search for entries against a named person or business at a stated address or a corporate body in the Republic of Ireland, Northern Ireland, Scotland or England and Wales by visiting Registry Trust’s website www.trustonline.org.uk or by writing to Irish Judgments at Irish Judgments, Ulysses House, Foley Street, Dublin 1.