Statistical updates recipes
March Corporate Insolvencies remain high
ASIC has recently released their update for corporate insolvency statistics for March 2012. They reveal that March, whilst off February’s all time high, was another bad month for corporate Australia with 1,014 insolvency appointments. This is the second worst March on record and the fifth worst month overall. If that is sounding familiar, well, that’s because it is! Corporate insolvencies have been bouncing along at or near all time highs for about a year now. Click Here To Read More
Corporate Insolvency numbers hit record high
ASIC have recently released their monthly corporate insolvency statistics. They reveal that February 2012 was the worst month ever for corporate insolvencies, and that last years floods in Queensland are now showing their effect on small business with record numbers of liquidations.
Bad News Continues in 2012 – Business Stress Report
Every quarter here at Dissolve we break down the most telling corporate insolvency, liquidation and restructuring statistics into our Business Stress Report. Our latest report reveals that the bad news for corporate Australia is continuing into 2012. January 2012 is another record high month for the number of corporate insolvencies and the cost of those insolvencies continues to run at over four times pre-GFC levels. You can download the full Report here and I’ve given a summary below. Click Here To Read More
December 2011 Corporate Insolvency Statistics Released
You may have got our early call last month that 2011 would be the worst year ever for insolvency numbers – well ASIC has just released the corporate insolvency statistics for December 2011 and they confirm our earlier prediction. They show that although December 2011 is down from November 2011, overall 2011 was the highest year on record for corporate insolvencies with 10,481 companies entering some form of liquidation, administration or receivership. This represents a 9.2% increase over the previous highest which was 9, 601 in 2010.
2011 Worst Year on Record for Corporate Insolvencies – Business Stress Report
Every quarter here at Dissolve we break down the most telling corporate insolvency, liquidation and restructuring statistics into our Business Stress Report. Our latest report reveals that 2011 was the worst year on record for corporate insolvencies. You can download the full Report here and I’ve given a summary below.
ASIC recently released statistics for insolvencies for November 2011 and the 9,718 corporate insolvencies in the 11 months to November 2011 is 10% higher than for the same period in 2010. The 11 months to November 2011 has already exceeded the full calendar year of 2010 which was the previous highest full year.
Interestingly, November 2011 itself, with 983 insolvencies, was up 17% on November 2010 but short of the highest ever November which was in 2008.
The typical company insolvency – size, sector, creditors, offences and outcomes
Let me dramatically overgeneralise. If your company went into liquidation in the year to June 2011 then, most likely, it will have been in the construction game, had fewer than 5 employees, assets of less than $10,000, you will have committed an offence by trading while insolvent, will owe creditors less than $250,000, including the tax man, your liquidator will pay no dividend to unsecured creditors and ASIC will not pursue you for the offences you committed. Well, actually that’s a description of the most common statistical categories for companies entering liquidation. Click Here To Read More
More records set – September insolvency statistics released
ASIC have recently released the insolvency statistics for September 2011. They reveal the number of corporate insolvencies in September 2011 is down slightly from August 2011 but it has still set a number of “highest ever” records for 2011. Liquidators in Tasmania and Western Australia are busy with further large increases in the number of appointments in those states.
The key statistics are:
- The number of companies entering some form of insolvency administration in the month of September 2011 was 991. That figure is down slightly from August 2011 which was 1,049. And here is an interesting comparison – the insolvency number for September 2007 (so pre-GFC) was 557.
- The September insolvencies are the highest on record for a September and continues the trend for the calendar year with six of the nine months of 2011 being the highest ever for each of those months.
- The rolling year to September 2011 has seen 10,228 insolvencies which is the highest yearly total since records have been kept.
- Geographically, the bad news continues in Tasmania and WA this calendar year – Tasmanian insolvencies have increased 94% when compared to the average of the same period over the previous 5 years and WA insolvencies are up 71%.
ATO gets tough on tax collections
After the GFC the ATO was very generous in extending payment arrangements to struggling companies and it also went easy on its use of its debt collection tools – Director Penalty Notices, Garnishees and Wind Up Notices. Those times are over. I’ve spent some time recently reviewing the ATO annual reports since 2008 (yes, really!) and it reveals a much tougher stance by the ATO in 2010/11. Click Here To Read More
Liquidations up, again – August statistics released
This month’s release of ASIC insolvency statistics reveals that the number of corporate insolvencies in August 2011 is the second highest month on record. Director initiated insolvencies (mostly Creditors Voluntary Liquidations) make up a large portion (59%) of all appointments.
Cost of Insolvencies trends back up, bad news in Tasmania and WA
Dissolve has just released its latest Business Stress Report. The overall trend has been that during the GFC the number of corporate insolvencies increased somewhat with the cost of those insolvencies increasing dramatically. Post GFC, both the cost and number of insolvencies dropped from their peaks but remained well above pre-GFC levels. In recent times both have trended up again.
