HomePostsRisk Watch Essentials – January 2022

Risk Watch Essentials – January 2022.

mm
Categories: UncategorizedFebruary 9, 2022
mm
Categories: UncategorizedFebruary 9, 2022

Share

The graph below represents formal appointments from the start of 2017 to the end of 2021 on a quarterly basis. The graph indicates that the number of formal appointments continue to be well below pre pandemic levels with no sign of increasing.

Source: https://asic.gov.au/regulatory-resources/find-a-document/statistics/insolvency-statistics/

The tables and graphs below summarise the data essentials captured from our daily Risk Watch publication, which provides a synopsis of the insolvency market for January 2022.

In addition to the tables below, three (3) companies appointed a Restructuring Practitioner during the month of January 2022 in relation to the Debtor in Possession restructuring process for small businesses.

Winding Up applications filed with the Court in January 2022

Winding Up Applications Australia    NSW    VIC    QLD    WA    ACT    SA    NT    TAS
TOTAL 108 33 (31%) 29 (27%) 26 (24%) 11 (10%) 2 (2%) 5 (5%) 0 (0%) 2 (2%)

There were no winding up applications filed by the ATO in January 2022

Formal Appointments in January 2022

Formal Appointments Australia    NSW    VIC    QLD    WA    ACT    SA    NT    TAS
TOTAL 300 128 (43%) 67 (22%) 60 (20%) 22 (7%) 4 (1%) 15 (5%) 1 (0%) 3 (1%)
Court Liquidation 53 7 (13%) 19 (36%) 16 (30%) 7 (13%) 0 (0%) 4 (8%) 0 (0%) 0 (0%)
Creditors’/Members’ Voluntary Liquidation 225 114 (51%) 43 (19%) 37 (16%) 13 (6%) 4 (2%) 10 (4%) 1 (0%) 3 (1%)
Voluntary Administration 22 7 (32%) 5 (23%) 7 (32%) 2 (9%) 0 (0%) 1 (5%) 0 (0%) 0 (0%)

Rodgers Reidy is one of the foremost providers of insolvency, forensic and reconstruction services to distressed businesses throughout Australia, New Zealand and Asia. With a strong commitment to integrity and the community, Rodgers Reidy provides a professional and quality service, offering innovative, cost effective solutions.  Please contact any of our directors by clicking the appropriate office below for an initial consultation free of charge.

You can refer Risk Watch to a friend or colleague by clicking the ‘forward it to them’ link available at the bottom of each bulletin. If you want to change the way you receive the emails, you can also update your preferences or unsubscribe at any time.

If you are having difficulty viewing Risk Watch, simply add [email protected] to your contacts in your email client.

Rodgers Reidy

Associate Director

Before joining Rodgers Reidy, Chris spent 5 years in the insolvency and restructuring division of a Big 4 professional services firm. Since joining Rodgers Reidy 2012, he has gained extensive expertise in formal insolvency appointments, restructuring and advisory appointments across a wide range of industries.

Meet our team of experts

Rodgers Reidy

Associate Director

Before joining Rodgers Reidy, Chris spent 5 years in the insolvency and restructuring division of a Big 4 professional services firm. Since joining Rodgers Reidy 2012, he has gained extensive expertise in formal insolvency appointments, restructuring and advisory appointments across a wide range of industries.

Meet our team of experts

Organise a
meeting today.

Contact us