Insolvency statistics - Series 2B Notification of all external administration and controller appointments - weekly

As a result of the COVID-19 pandemic, ASIC releases weekly statistics of all external administration and controller appointments (new Series 2B.1 to 2B.8).

Series 2B records the total number of external administration and controller appointments. Schemes of arrangement or compromise are excluded.

Note: Series 2 differs from Series 1, which records the number of companies entering external administration and controller appointments. We only include a company once in Series 1, regardless of whether it subsequently enters another form of external administration or controller appointment. 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 or controller appointment.

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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 2 – All external administration and controller appointments

To improve the accuracy of published information, we currently release Series 2 statistics about all 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 two business days after appointment for restructuring plan practitioners, and within two business days of adopting the process for simplified liquidations
    • 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 2B.1 and 2B.2: Notification of all 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 2).
  • 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 2B.3, 2B.5 and 2B.7: Notification of all 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 (2B.3), region (2B.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 2 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 January 2020 to 5 January 2021 includes:

  • Series 2 statistics for the month of January 2020 (pro-rated based on the number of days during the period 6 January to 31 January e.g. for 25/31 of the Series 2 statistics for January 2020)
  • Series 2 statistics for the period 1 February 2020 to 30 November 2020
  • provisional statistics for the period 1 December 2020 to 5 January 2021.

This number is compared to the actual number of external administration and controller appointments reported in Series 2 for the corresponding previous 12-month period (e.g. 6 January 2019 to 5 January 2021) with appointments for January 2019 and 2020 pro-rated based on the number of days (e.g. 25/31 days in January 2019 and 5/31 days in January 2020 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 2 statistics) and the current part month except for industry 2B.7.

Series 2B.4, 2B.6 and 2B.8: Notification of all 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 (2B.4), region (2B.6) and industry (totals only) (2B.8), and include:
    • the actual number of external administration and controller appointments reported in the most recently published Series 2 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 2020 to 5 January 2021 includes:

  • Series 2 statistics for the period 1 July 2020 to 30 November 2020
  • provisional statistics for the period 1 December 2020 to 5 January 2021

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 2019 to 5 January 2020) with appointments for January 2020 pro-rated based on the number of days in the reporting period (e.g. 5/31 of the Series 2 statistics for January 2020).

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 2) and the current part month except for industry 2B.8.

Last updated: 21/09/2021 03:38