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insolvency statistics

Corporate Insolvency: September Quarter 2016

The quarterly insolvency statistics published by ASIC for the September Quarter 2016 show a small increase of 0.7% in companies entering external administration (EXAD). Appointments totalled 2,299 compared to 2,283 in the previous quarter. The quarterly total was 22.3% lower than the 2015 September quarter (2,960).

The percentage of companies entering EXAD for the quarter, relative to new incorporations, remains below 4%.

Only Court liquidations increased nationally compare to the previous quarter (up 42.3%). Other appointment types fell – Creditors’ voluntary liquidation (down 6.7%), receiverships (down 38%) and voluntary administration appointments (down 19.6%).

Appointments compared to the June 2016 quarter, results by region were mixed – Victoria (down 10.5%), Tasmania (down 25%), Northern Territory (down 31.3%), Queensland (up 11.3%) and Western Australia (up 14.5%). Other regions experienced minor changes. 

Source – ASIC Insolvency Data ‘Summary Analysis of Insolvency Statistics’ 

 

Personal Insolvency: September Quarter 2016

The number of personal insolvency increased 1.1% in the September quarter 2016 (7,590) compared to the September quarter 2015 (7,511). There were 29,527 personal insolvencies in 2015–16, a rise of 4.4% from 28,288 in 2014–15.

By type of personal insolvency:

  • bankruptcies fell 3.5%
  • debt agreements increased 7.3%
  • personal insolvency agreements increased 18.2%%.

The rise in bankruptcies in 2015 – 16 is the first annual rise since 2008 – 09. Queensland and Western Australia accounted for most of the national rise in bankruptcies in the September quarter 2016.

Source – AFSA ‘Personal Insolvency Activity in the June Quarter 2016’

 

 

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