Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

At 75%, Malta has highest percentage of companies owed money in EU

Maltese companies report the highest percentage of debt claims in EU

james
James Debono
2 December 2016, 8:13am
Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days
Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days
In 2015, three in four of Maltese companies reported being owed money from domestic debtors, with overdue debt claims. 

Malta was the country with the highest percentage of companies owed money from domestic debtors, followed by Greece (67%), and Slovenia and Croatia (both 63%). 

At the other end of the scale, fewer than a quarter of companies in Denmark (18%), Sweden (21%) and Estonia (24%) did so. 

Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days but less than six months in Greece (49%) and Malta and Italy (both 44%), and least likely to have done so in Bulgaria (11%), Estonia (14%) and Denmark (15%). 

Companies in Malta (31%), followed by Slovenia (27%) and Croatia (24%) were also the most likely to have had domestic debtors with overdue debt claims at six months or more; companies in Italy (2%), Denmark (3%) and Sweden (5%) had the fewest such debtors. 

This emerges from a survey carried out in the 28 Member States of the European Union between 15 and 24 June, 2016 among enterprises employing one or more persons in manufacturing, services and industry. 200 Maltese companies were interviewed by MISCO.

The survey also shows that four in 10 companies in Malta (43%), Slovenia (41%) and Italy (38%) had enforced unpaid debt claims against domestic debtors via judicial or out-of-court procedure. Companies in Latvia (9%), Estonia (10%) and France (11%) are the least likely to have done this. 

Very few companies in any Member State had overdue foreign debt claims in other countries during the 2015 fiscal year. Companies in Luxembourg (15%), Malta (13%) and Germany (10%) were the most likely to have done so, while those in the United Kingdom, Bulgaria, Slovakia, Spain and Poland (all 2%) were the least likely. 

Luxembourg (17%), Malta (13%) and Slovenia (11%) had the highest proportions of companies with foreign debtors in the EEA with debt claims past 30 days but less than six months. 

Malta (5%) is also the country with the highest percentage of companies with foreign debtors outside the EEA with debt claims at six months or more. 

The major obstacle cited by companies in Malta in recovering debts in other countries was the cost of specialist legal advice in another country.

james
James Debono is MaltaToday's chief reporter on environment, planning and land use issues, ...
DealToday
Latest Business News
Business Comment 15-12
Siemens AG said Friday that investments in research and development will rise an additional 450 million ($530.6 million) in fiscal 2018 as i...
Technology 15-12
GMO Internet will pay their employees up to 100,000 yen (€756) monthly in Bitcoin
Law Report 15-12
In a judgment delivered on 5 December in Mark Muscat v HSBC, it was held that when one alleges discrimination, one must prove there is ...
Business Comment 14-12
'This is a continuous struggle. Abuse can be limited, but never eliminated. What we need to do is address the black economy and treat it...
Business Comment 14-12
U.S. stocks fluctuated but mostly rose on Wednesday, while the dollar rose and Treasuries slipped as investors kept an eye on upcoming centr...