Insolvency statistics - Series 1B Notification of companies entering external administration – weekly update

As a result of the COVID-19 pandemic, ASIC will release weekly statistics of companies entering external administration (new Series 1B.1 to 1B.6).

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Source

The source of these statistics is appointment documents (e.g. Forms 505) lodged with ASIC by external administrators and controllers.

Series 1 – Companies entering external administration

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 appointment documents differs for appointment types:
    • within 14 days after appointment for court liquidations, creditors voluntary winding ups and controller appointments
    • within one business day for voluntary administration
      (e.g. a form notifying 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 - weekly

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

Series 1B.3 and 1B.5: 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) and region (1B.5) 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 appointment documents lodged. (NOTE: The provisional statistics will change and be updated as additional appointment documents 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.

Series 1B.4 and 1B.6: 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 (1B.4) and region (1B.6) and include:
    • 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 appointment documents lodged. (NOTE: The provisional statistics will change and be updated as additional appointment documents 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 Series 1) and the current part month.

Last updated: 29/09/2020 01:32