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Wed 06 Jun 2010Insolvencies fall for third month in row

THE NUMBER of insolvencies fell for the third consecutive month in May, although the rate of insolvencies is still 25 per cent higher than the same period last year, new data shows.

Figures released yesterday by InsolvencyJournal.ie, a website run by accountancy firm Kavanagh Fennell, show that 112 insolvencies were recorded in May, down 26 per cent from the 2010 year high of 151 recorded in February.

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