a) The table provides details of the total number of persons who have been declared insolvent and finally sequestrated by the courts in the past five years:
Year |
Insolvencies (Natural Persons) |
Liquidations (Legal Persons) |
Total |
|
2018 |
2 691 |
3 697 |
6 388 |
|
2019 |
3 329 |
4 071 |
7 400 |
|
2020 |
1 911 |
4 223 |
6 134 |
|
2021 |
2 481 |
4 099 |
6 580 |
|
2022 |
2 249 |
3 877 |
6 126 |
|
Total |
12 661 |
19 967 |
32 628 |
|
b) The Master of the High Court does not keep statistics with regards to race and debt value. It should also be noted that the true value of the assets is not necessarily finalised at application date but only finally established by the appointed trustee or liquidator during winding up.