Sharp Shock For Businesses As Judgments Soar
Press Release November 15 2018
SHARP SHOCK FOR BUSINESSES AS JUDGMENTS SOAR
Judgments against businesses in England and Wales jumped nearly a third during the
third quarter of 2018, compared with the same period a year ago, according to figures
released today by Registry Trust.
Registry Trust is the Registrar of Judgments, Orders and Fines in England and Wales (on
behalf of the Ministry of Justice). In addition, it collects, verifies and publishes judgment
information from jurisdictions across the British Isles and Ireland.
Registry Trust provides commercial credit reference agencies with regular updates on
outstanding judgments. This information impacts the ability of all enterprises to borrow
as well as affecting their reputation, as people shy away from dealing with enterprises
whose debts appear out of control.
During Q3 2018, there were 32,629 CCJs against businesses in England and Wales, 32
percent more than in Q3 2017.
The total value of business CCJs rose by 24 percent to £100,223,291; building on last
year’s Q3 increase rate by a further 11 percent.
The average value of business judgments decreased six percent to £3,072 giving a
historic Q3 low. This follows the general pattern for the last seven years, where, except
for Q3 2016, average values have fallen.
The extent of the increase in business judgments was largely down to a 47 percent rise,
to 24,249, in the total number of CCJs registered against companies. There was a
smaller increase of two percent, to 8,380, in CCJs against the generally smaller
unincorporated businesses over the same period.
The number of high court judgments against businesses rose to 25 and there was a
massive increase (3275 percent) in their value to £35,157,304. The average value hit a
record Q3 high at £1,406,292, a 1790 percent rise on 2017. However, this was heavily
affected by a single judgment of £22,745,726 plus four judgments of £1,635,824 each.
The huge increases reflect also last year’s record lows for a third quarter. (The 2018
average value was up only 39 percent on 2016 levels).
As well as distributing judgment information to lenders under strict licensing with credit
reference agencies, Registry Trust makes information readily available to the public
through TrustOnline.
There were 52,398 public requests to search the register for England and Wales online
during the third quarter this year. TrustOnline allows anyone to search for judgments
and similar information registered against businesses and consumers in jurisdictions
across the British Isles and Ireland.
On behalf of TrustOnline, Malcolm Hurlston CBE, chairman of Registry Trust said: “Some
businesses, and limited companies especially, suffered a sharp shock this quarter. It
makes sense for people to check directly with the Register before carrying out
transactions.”
-Ends-
Statistics
- CCJs against all businesses Q3 2018 (Compared with Q3 2017)
o Total number: 32,629 (up 32 percent)
o Total value: £100.2m (up 24 percent)
o Average value: £3,072 (down six percent)*
o Median: £960 (down 23 percent) - CCJs against incorporated businesses Q3 2018 (Compared with Q3 2017)
o Total number: 24,249 (up 47 percent)
o Total value: £77.2m (up 36 percent)
o Average value: £3,183 (down seven percent)*
o Median value: £902 (down 32 percent) - CCJs against unincorporated businesses Q3 2018 (Compared with Q3 2017)
o Total number: 8,380 (up two percent)
o Total value: £23m (down three percent)
o Average value: £2,749 (down five percent)*
o Median value: £1,117 (up three percent) - High Court judgments against businesses Q3 2018 (Compared with Q3 2017)
o Total number: 25 (up 79 percent)
o Total value: £35.2m (up 3275 percent)
o Average value: £1,406,292 (up 1790 percent)*
o Median: £88,261 (up 469 percent) - High Court judgments against businesses Q3 2018 – Adjusted (Compared with Q3
2017)
o Total number: 20 (up 43 percent)
o Total value: £5,868,282 (up 463 percent)
o Average value: £293,414 (up 294 percent)*
* Average value refers to the ‘mean’. The mean average tends to be higher than the median, as it is more distorted by outlying, high value cases.
For more information contact
press@hurlstons.com
0207 239 4971
www.trustonline.org.uk
Notes for editors
Registry Trust is a non-profit company established in 1985 in order to become Registrar
of County Court Judgments on behalf of the Department of Constitutional Affairs. It
maintains public records of judgment and decree information for most jurisdictions in the
British Isles and Ireland. These records are an important factor in avoiding debt and in
supporting responsible lending decisions, which in turn underpin a modern and stable
economy.
Today Registry Trust is the Registrar for Judgments, Orders and Fines in England and
Wales on behalf of the Ministry of Justice. The Register includes county court judgments,
high court judgments, CSA liability orders, fine defaults and tribunal awards for England
and Wales.
CCJs are removed from the register if paid in full within one calendar month of the
judgment date, but will otherwise remain registered for six years. If fully paid outside
the one calendar month, judgments can be marked as ‘satisfied’ which will improve the
credit rating. Failure to pay within one month is proof of failure to manage debt.
Anyone may search for entries against a named person or business at a stated address
or a corporate body in Great Britain, Northern Ireland and the Republic of Ireland by
visiting Registry Trust’s website www.trustonline.org.uk or by writing to Registry Trust,
153-157 Cleveland Street, London W1T 6QW.
To view the full set of annual statistics, visit www.trustonline.org.uk/press. There is
more information about Registry Trust’s aims, structure and accountability as well as
information about its range of information beyond the Register of Judgments at
www.registry-trust.org.uk. The site includes RT View – free interactive mapping software
which displays aggregated judgment data for England and Wales by region, local
authority and ward back to 2001.
