We are currently developing the documentation of statistics. At the moment, the content is not necessarily up-to-date in all respects.
Bankruptcies and business restructuring proceedings: documentation of statistics
The documentation of the statistics describes how the statistics were compiled and what methods were used in the compilation. The data help interpret the figures of the statistics and evaluate their reliability and comparability. The quality report is based on the EU's SIMS model. The documentation also contains change releases describing changes in the statistics and possible specifying methodological descriptions.
If you are looking for statistical figures for these statistics, go to the statistics page: Bankruptcies and business restructuring proceedings
Quality report
Data description (SIMS 3.1)
The Statistics on bankruptcies and business restructuring proceedings statistics describe the bankruptcy cases instigated and decided by district courts. The data are published monthly, quarterly and annually.
Concepts and definitions (SIMS 3.4)
Bankrupt
In statistics, the term bankrupt refers to enterprises, corporations or natural persons for whom a bankruptcy petition has been filed.
Bankrupt's estate
This legal form is used if a bankrupt's estate requests and is given a Business ID. Otherwise the legal form of an enterprise does not change in connection with a bankruptcy.
Bankruptcy
Bankruptcy is an insolvency proceeding covering all the liabilities of the debtor, where the assets of the debtor are used in payment of the claims in bankruptcy. At the beginning of the bankruptcy the debtor loses authority over the assets. The court appoints an estate administrator to administer the bankruptcy estate and the assets of the debtor. The assets are liquidated and used in payment of the debts.
Bankruptcy petitioner
The court shall make the order of bankruptcy. The bankruptcy petition can be made by a creditor or the debtor. In statistics, the bankruptcies where the petitioner is a shareholder of a decedent's estate are often classified separately from other voluntary bankruptcies, i.e. bankruptcies where the petitioner is the debtor.
Bankruptcy proceedings closed with a final decree
In Statistics Finland's statistics on bankruptcies, bankruptcy proceedings closed with a final decree refer to bankruptcy proceedings which have been concluded in a district court with a final decree.
Bankruptcy proceedings initiated by a creditor
Bankruptcy proceedings which have been initiated by a creditor.
Business restructuring
A new Act on Business Restructuring entered into force on 8 February 1993. The purpose of the Act is to ameliorate the situation of enterprises in financial difficulties. Business restructuring is an alternative to bankruptcy. The proceedings aim at securing the continuation of the operations of a viable enterprise. It is at the court of justice's discretion to decide whether the enterprise would be viable after the restructuring.
Closed bankruptcy
In Statistics Finland's statistics on bankruptcies, a closed bankruptcy refers to bankruptcy proceedings that have been finalised in a District Court.
Early business restructuring
Early business restructuring is a form of business restructuring, for which petitions can filed when there is risk of insolvency. If an enterprise is found to be insolvent in the middle of the proceedings, the proceedings can be resumed as a normal business restructuring case.
Instigated bankruptcy case
In Statistics Finland statistics on bankruptcies, instigated bankruptcy cases refer to bankruptcy petitions filed during the calendar year by enterprises, corporations, estates of deceased persons or private individuals. The first bankruptcy petition filed in the calendar year is recorded in the statistics as an instigated bankruptcy case. Several creditors can file a bankruptcy petition against the same enterprise during the year. The number of petitions is always higher than the number of instigated bankruptcy cases in these statistics.
Job endangered by bankruptcy
Jobs endangered by bankruptcy refer to the number of jobs in enterprises or corporations for which a bankruptcy petition has been filed during the calendar year. If the personnel number is unknown, the default number of one is applied.
Pending restructuring cases
In Statistics Finland statistics, pending restructuring cases refer to restructuring petitions concerning enterprises, corporations, estates of deceased persons or private individuals filed during the calendar year. The first business structuring petition filed in the calendar year is recorded in the statistics as a pending restructuring case. Several creditors may file a business restructuring petition concerning the same enterprise during a year, but only the first petition is recorded in the statistics as a pending restructuring case. The number of petitions is always higher than the number of pending restructuring cases in these statistics.
Institutional mandate (SIMS 6)
Toimivaltuudet arcu eros, elementum eget dui sed, volutpat dictum odio. Proin et tortor pellentesque, semper dui eget, ultricies tellus. Nam placerat tortor diam. Ut suscipit, turpis non interdum fringilla, felis orci scelerisque lectus, tempor lobortis neque libero non neque. Aliquam commodo justo et aliquam ultrices.
Quality assurance (SIMS 11.1)
Laadunvarmistus lorem diam, sodales sit amet commodo non, rhoncus non justo. Maecenas sollicitudin, nunc sed lacinia ullamcorper, dolor libero eleifend diam, nec ornare quam risus nec ipsum. Cras tortor sapien, aliquet sit amet mauris vitae, placerat accumsan dolor. Donec congue quis odio a pulvinar.
Release calendar (SIMS 8.1)
Julkistamiskalenteri a sodales felis. Etiam gravida massa vel erat elementum, in elementum arcu vehicula. Aliquam molestie mi id orci gravida tincidunt aliquet in felis. Sed venenatis sit amet quam ut pharetra. Sed vitae tempor tellus. Integer sollicitudin nulla risus, vitae blandit enim elementum finibus.
User access (SIMS 8.3)
Käyttäjien käyttöoikeudet porta, leo a placerat ultrices, lectus ex ornare lectus, vel porttitor nisi nulla ac felis. Vivamus scelerisque purus eget orci iaculis, eget mattis lacus finibus. Proin lobortis, est egestas tempor fringilla, massa quam dignissim lacus, a maximus urna quam et elit. Integer tristique elit nec mauris pellentesque mattis.
Confidentiality - policy (SIMS 7.1)
Tietosuojaperiaatteet ipsum dolor sit amet, consectetur adipiscing elit. Phasellus in gravida ligula. Aenean elementum ligula libero, sit amet sagittis libero condimentum et. Nulla facilisi. Nullam ornare, ex sed egestas rhoncus, neque nisi sodales risus, sit amet aliquet enim nunc eu turpis. Duis hendrerit interdum mauris id pulvinar.