Until July 2018 there have been 18.9% less bankruptcies than in 2017 for the same date. 2017 had closed with 25.7% less bankruptcies than the year before. This is the lowest it has been in the last 10 years and could occupy 2017’s record for the lowest in the last 10 years.
Bankruptcy imposes social cost, administrative and legal expenses in bankruptcy can get expensive therefore all sides have an interest in doing everything possible to avoid it. Recession strains the economic ecosystem through various means, one of them is the reduction of flow of income available. This reduction makes it difficult to comply with obligations and increases uncertainty of future liquidity and this leads to a reduced demand for goods and durable as well as services.
Source: Puerto Rico Bulletin