It is not only legal systems that are to blame for the high level of liquidations.
As well as the liquidations, a handful of private banks with insufficient capital have closed.
Construction firms accounted for a fifth of all compulsory liquidations while other property-related businesses were also hit hard.
Falling global markets on growth concerns and Western economy uncertainty may also cause liquidations in the precious metals.
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The number of liquidations fell year-on-year from 264 to 122, or 54%, in the first three months of 2013.
Behind-the-scenes factors, such as hedge-fund liquidations seemingly triggered by quarterly withdrawals, pushed the Dow Jones industrial average down 3.0%, or 300.11 points, to 9, 655.39.
In Northern Ireland, there were 85 company liquidations in the last three months of the 2010, up from 79 during the previous three months, and 74 during the last quarter of 2009.
The estimates include both voluntary and compulsory liquidations.
It will be important, therefore, to achieve full and credible recognition of loan losses, to ensure that capital injections are accompanied by strong commitments to restructuring, and to promote the resolution of problem loans through liquidations or workouts.
Both GM and Chrysler faced the stark choice of seeking government support or facing almost certain uncontrolled liquidations, which would have had a ripple effect across the industry, causing at least one million more jobs to be lost.
Despite limitations on debt that looked low at first glance compared to other investment vehicles, the extreme volatility in the underlying assets owned by the BDCs led to a death spiral involving forced liquidations, asset retrenchment, and dividend cuts.
Despite an overhaul of the bankruptcy laws in 1998, it is still awesomely difficult to foreclose on debts: the definition of bankruptcy turns on net worth, as opposed to cash flow, and the process is slowed down by a two-track system that separates forced restructurings from forced liquidations.
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