Corporate insolvencies – Lowest November in ten years
ASIC have published the corporate insolvency statistics for November 2014. There were 631 insolvency appointments in November 2014 which is the lowest November number since 2004. It was a 22% decrease from November 2013 (830) and a 27% decrease from the average of the previous 5 Novembers (859).
State by state, Queensland has shown the most significant decrease in November, posting 116 insolvencies for the month. This was a 29% decrease when compared to the number for November 2013 (170). New South Wales was down 18% and Victoria by 16% when the same comparison was made.
Insolvencies commenced by court order were down in November 2014 when compared to the previous November. There were 146 court appointments in the month, which was a 37% decrease from the previous November at 283.