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26/07/2009 - Insolvency Booming

A total 6,893 companies went into liquidation, receivership or administration in England and Wales in the first quarter of 2009, a 56 percent increase from the same period a year earlier, according to data on the www.insolvency.gov.uk Web site. A record number of companies, 1,311, went into administration in the quarter. A change to insolvency law in 2003 meant companies in administration could keep trading while its assets are being sold.

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