Bankruptcy, liquidation and 'No Asset Procedure' notifcations to the Insolvency and Trustee Service of the Ministry of Economic Development rose 15.5% to a record high for 2008 of 506 in the last four weeks from the previous four weeks.
Data provided to interest.co.nz shows total notifications in the last week stood at 123, down slightly on the previous week's 139, but still above the 80-90 seen in most weeks until October.
The rolling four week total of 506 is the first time above 500 this year, which is the first to include the new 'No Asset Procedure.
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