ZAGREB, April 4 (Hina) - The Money Transfer Service (ZAP) said on Wednesday outstanding orders of transfer continued to decrease but the number of insolvent companies continued to increase, with the accounts of 33,551 frozen at the
end of February, totalling 19.3 billion kuna (approx. $2.2 billion). Outstanding orders of transfer at the end of February were some 400 million kuna ($46 million) lower than a month before, and 5.5 billion kuna ($632 million), or 20.9 percent higher than in February 2000. The number of insolvent companies, on the other hand, continues to increase, with 490 companies' accounts frozen during February. In comparison to a year before, there were 1,465 more insolvent companies, an increase of 4.6 percent. The most numerous are companies whose accounts have been frozen for over a year, namely 25,234 companies, or a staggering 75.2 percent of the entire fig
ZAGREB, April 4 (Hina) - The Money Transfer Service (ZAP) said on
Wednesday outstanding orders of transfer continued to decrease but
the number of insolvent companies continued to increase, with the
accounts of 33,551 frozen at the end of February, totalling 19.3
billion kuna (approx. $2.2 billion).
Outstanding orders of transfer at the end of February were some 400
million kuna ($46 million) lower than a month before, and 5.5
billion kuna ($632 million), or 20.9 percent higher than in
February 2000.
The number of insolvent companies, on the other hand, continues to
increase, with 490 companies' accounts frozen during February. In
comparison to a year before, there were 1,465 more insolvent
companies, an increase of 4.6 percent.
The most numerous are companies whose accounts have been frozen for
over a year, namely 25,234 companies, or a staggering 75.2 percent
of the entire figure. According to ZAP, it is unlikely they will
become solvent easily. Most will be fall under the Bankruptcy Act.
(hina) ha sb