Insolvency statistics - Series 1B Notification of companies entering external administration and controller appointments - weekly

As a result of the COVID-19 pandemic, ASIC is releasing weekly statistics of companies entering external administration and controller appointments (Series 1B.1 to 1B.8).

Series 1B records the number of companies entering external administration and controller appointments. We only include a company once in these statistics, regardless of whether it subsequently enters another form of external administration. The only exception occurs where a company, taken out of external administration (e.g. as the result of a court order), later re-enters external administration. Schemes of arrangement or compromise are excluded.

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Source

The source of these statistics is the notification of appointment (e.g. Forms 505) lodged with ASIC by external administrators and controllers. The region is the state the company was originally incorporated in and the industry is the Australian and New Zealand Standard Industrial Classification (ANZSIC) indicated by the external administrator or controller.

Series 1 – Companies entering external administration and controller appointments

To improve the accuracy of published information, we currently release Series 1 statistics about companies entering external administration and controller appointments one month in arrears (e.g. statistics published for the month relate to appointments made in the preceding month) because:

  • the statutory period for lodging the notification of appointment differs for appointment types:
    • within 14 days after appointment for court liquidations, creditors voluntary winding ups and controller appointments
    • within one business day after appointment for voluntary administrations and restructuring practitioners
      (e.g. notification of an appointment that occurs on the last day of the month may not be required to be lodged until the 14th day of the next month)
  • the lodgment may be late, which may be exacerbated by COVID‑19
  • ASIC may not have processed paper forms received by month end
  • the data is collated based on the date of appointment, not the form lodgment date.

Series 1B.1 and 1B.2: Notification of appointment of companies entering external administration and controller appointments – Total, weekly

  • Weekly figures (shaded in blue) are the number of notifications of appointment lodged and do not accurately represent the total number of external administration and controller appointments in the period.
  • The weekly figures will be updated each week for new lodgments of notifications of appointment until the statistics for a given period have been published in the monthly statistics (Series 1).
  • The number of notifications of appointment lodged in the most recent two weeks (shaded red) will be subject to the greatest increases as additional notifications of appointment are lodged, and should not be taken as representing the actual number of external administration and controller appointments in those weeks.

Series 1B.3, 1B.5 and 1B.7: Notification of appointment of companies entering external administration and controller appointments – 12-month rolling average (with comparison to prior year rolling average)

  • The 12-month rolling average is provided by appointment type (1B.3), region (1B.5) and industry (totals only) (1B.7) and includes:
    • the actual number of external administration and controllers appointments reported in the most recently published Series 1 statistics (with the published appointment statistics for the first month of the rolling average period pro-rated based on the number of days in that month included in the rolling average period)
    • provisional statistics for the subsequent period up to the stated period end reporting date. The provisional statistics are based on the number of notifications of appointment lodged. (NOTE: The provisional statistics will change and be updated as additional notifications of appointment are lodged for appointments made during the reporting period).

Example: The number of external administration and controller appointments for the rolling average period 6 April 2019 to 5 April 2020 includes:

  • Series 1 statistics for the month of April 2019 (pro-rated based on the number of days during the period 6 April to 30 April e.g. for 24/30 of the Series 1 statistics for April 2019)
  • Series 1 statistics for the period 1 May 2019 to 28 February 2020
  • provisional statistics for the period 1 March 2020 to 5 April 2020.

This number is compared to the actual number of external administration and controller appointments reported in Series 1 for the corresponding previous 12-month period (e.g. 6 April 2018 to 5 April 2019) with appointments for April 2018 and 2019 pro-rated based on the number of days (e.g. 24/30 days in April 2018 and 5/30 days in April 2019 respectively).

For clarity, we break out provisional numbers into separate tables for appointments made in the preceding full month (which has not yet been published in the Series 1 statistics) and the current part month except for Industry 1B.7.

Series 1B.4, 1B.6 and 1B.8: Notification of appointment of companies entering external administration and controller appointments – financial year to date (with comparison to prior financial year)

  • The financial year to date statistics are provided by appointment type (1B.4), region (1B.6) and industry (totals only) (1B.8) and include:
    • the actual number of external administration and controller appointments reported in the most recent Series 1 statistics for the current financial year
    • provisional statistics for the subsequent period up to the stated period end reporting date. The provisional statistics are based on the number of notifications of appointment lodged. (NOTE: The provisional statistics will change and be updated as additional notifications of appointment are lodged for appointments made during the reporting period).

Example: The number of external administration and controller appointments for the financial year to date 1 July 2019 to 5 April 2020 includes:

  • Series 1 statistics for the period 1 July 2019 to 28 February 2020
  • provisional statistics for the period 1 March 2020 to 5 April 2020

This number is compared to the actual number of external administration and controller appointments reported for the corresponding period in the previous financial year (e.g. 1 July 2018 to 5 April 2019) with appointments for April 2019 pro-rated based on the number of days in the reporting period (e.g. 5/30 of the Series 1 statistics for April 2019).

For clarity, we break out provisional numbers into separate tables for appointments made in the preceding full month (which has not yet been published in the Series 1 statistics) and the current part month except for Industry 1B.8.

Last updated: 06/12/2021 12:34