Wednesday 9 November 2011

11–246MR Attachment - ASIC data shows rise in insolvency appointments

Chart 1 — Companies entering EXAD by quarter

 

Table 1— Companies entering into EXAD by region

State / Territory	Sept Qtr 2010	June Qtr 2011	Sept Qtr 2011	%	% change Sept Qtr 2010	June Qtr 2011
NSW	1,073	1,097	1,247	42.1%	16.2%	13.7%
Vic	667	706	719	24.3%	7.8%	1.8%
Qld	474	504	564	19.0%	19.0%	11.9%
AS	88	112	129	4.4%	46.6%	15.2%
WA	146	176	218	7.4%	49.3%	23.9%
Tas	22	21	28	0.9%	27.3%	33.3%
NT	9	12	8	03%	-11.1%	-33.3%
ACT	23	28	48	1.6%	108.7%	71.4%
Total	2,502	2,656	2,961		18.3%	11.5%

NB: ASIC notes that percentage changes in smaller regions can be unduly influenced by a relatively small number of appointments.

New South Wales (+16.2%) Victoria (+7.8%), Queensland (+19%), South Australia (+46.6%), Western Australia (+49.3%), Tasmania (+27.3%) and ACT (108.7%) recorded an increase over the same quarter in the past financial year.

Only the Northern Territory (-11.1%) experienced a decline in EXADs.

Table 2 —Companies entering into EXAD by appointment type for the quarter ended 30 September 2011*

Appointment type	Sept Qtr 010	June Qtr 2011	Sept Qtr 2011	% change Sept Qtr 2010	% change June Qtr 2011
Court liquidations (1)	727	683	913	25.5%	33.7%
Creditors’ voluntary liquidations	1,064	1,228	1,271	19.5%	3.5%
Receiverships (2)	359	346	390	8.6%	12.7%
Voluntary administrations	351	399	387	10.3%	-3.0%
Total	2,501	2,656	2,961	18.3%	11.5%

* excludes: scheme administrator and foreign/RAB wind-ups; and members voluntary liquidation appointments as these relate to solvent entities

Includes:
(1) provisional liquidations, and
(2) receivers, receivers and managers, controllers and managing controllers.

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