According to the latest research of credit information and debt collection company Verband der Vereine Creditreform (VVC),  last year the largest growth of insolvent companies in eight new EU countries took place in Latvia, where the number of insolvent companies reached 1272, showing growth of 8.3%. It is followed by Estonia with 2.6% growth (234) and Lithuania with 0.7% (814).

The same way, examining the relatively higher number of insolvent companies for every 10 000 companies in new EU countries, Latvia with 252 insolvencies for every 10 000 companies shows the highest relative insolvency among those countries, as this number is 7 times larger than total average (36). Next is Hungary with 165 and Slovenia with 135 insolvent companies for every 10 000. The relative smallest index is shown in: Poland (1), Chech Republic (47) and Estonia (69).

Total number of insolvent companies in new EU countries has slightly reduced, showing change of 1.2% with 19 857 companies (20 089 in year 2006). Only three countries have achieved decrease in insolvency numbers: Poland (- 22.4%), Slovakia (- 2.3%) and Slovenia (- 0.5%).

Number of insolvent companies in the 15 countries of Old Europe continues to reduce - last year the rate of decrease was 5.0%, leaving 129 822 insolvencies (136 751 in 2006). The  largest fall was registered in Italy (- 38.7%), Netherlands (- 20.7%) and Germany (- 10.4%). To oppose, the largest rise was in Denmark (+ 20.8%), Luxembourg (+7.3%) and France (+ 5.7%).

Highest relative number of insolvent companies in Western Europe was in Luxembougr (256 cases for every 10 000 companies), then in Austria (240) and in France (166). Three Mediterranean countries - Spain (3), Greece (7) and Italy (13) are on the top of the table with lowest relative number of insolvency cases for every 10 000 companies. Total average number in Western Europe is 67 for every 10 000 enterprises.

Together with reduction in numbers of insolvent companies in Europe, number of job losses due to insolvency also is falling. Past years number was 1.2 mil. compared to 1.4 mil in year 2006.

In USA individuals insolvency cricis is cointinued, last year numbers rised by 34.1% till 801 800. Experts are forecasting that the tendency will also continue in year 2008. In its turn, corporate insolvency in USA has fallen by 6.1% with total result of 18 500.