Please find attached our latest Appleby report which provides a snapshot of data in relation to petition filings and resultant court orders in six of our offshore jurisdictions. This report tracks developments for the whole of 2014, reviewed against the backdrop of falling numbers of petition filings in 2013, since a peak in 2012.
There are a number of key findings that emerge from these petition filings statistics. They reveal that the number of petitions fell in each of the surveyed jurisdictions in 2014, except Bermuda. This reflects, in general terms, a retreat from the high-point of 2012 and brings 2014 much closer to the number of filings in 2008, when petitions were at the lowest level of the past seven years.
In this report we also analyse the rate of conversion of petition filings to Court ordered liquidations across the jurisdictions, and can reveal that Bermuda had the highest conversion rate during 2014.
The analysis in our report adds texture to these statistics and draws out our local expert's views on the key drivers for the petition filing and conversion rate trends in each of the jurisdictions analysed, set against the global context.
We hope that you find the Snapshot useful, please do not hesitate to get in touch should you have any queries.
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