THE number of court insolvencies has risen to a 10-year high of 754 in the year to March, the Official Receiver Robert Hearder says in his annual report. There were 751 cases in the previous year. In the latest year, 325 receiving orders were made and 429 companies were compulsorily wound up. There were 37,367 new companies registered, bringing the ratio of wound-up companies against those newly incorporated to 1.15 per cent from 0.72 per cent in 1993-94. The number of petitions received also reached a 10-year high of 1,011 cases from 1,008 previously. Most of them came from the Director of Legal Aid, representing 38.7 per cent of all petitions, or 391 cases. This was followed by petitions raised by trade creditors (28.6 per cent, 289 cases), and banking and financial institutions, accounting for 18.4 per cent, or 186 cases. Fines awarded by the courts for various insolvency offences totalled $550,000. In the report, Mr Hearder said there was a sharp rise in the number of summonses.