The number of insolvent legal entities declined in 2007 relative to 2006. This is confirmed by: 1. a smaller average monthly number of legal entities which had outstanding matured liabilities for more than five consecutive days in a month, 2. a smaller number of legal entities struck off the court register according to the Financial Operation of Companies Act, 3. a smaller number of filed compulsory settlements, and 4. a smaller number of filed bankruptcy and liquidation procedures against legal entities. According to the data released in the Official Gazette of the AS, the following procedures were filed at courts in 2007: 1. 66 compulsory settlement procedures, 2. 533 bankruptcy procedures, and 3. 28 liquidation procedures.
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