Risk Watch Essentials - December 2018
The tables below summarise data essentials captured from our daily Risk Watch publication, which provides a synopsis of the insolvency market for December 2018.
No. of Registered Liquidators in Australia as at January 2019
Winding Up applications filed with the Court in December 2018
A total of 182 Winding Up applications were filed throughout Australia in December 2018, the majority of which were in Victoria (70 or 38%) and New South Wales (40 or 22%). This is significantly less than November 2018 (310 filed) as indicated in last month's bulletin due to the Courts' closure for the Christmas/Summer holiday period, which is also expected to be reflected in the January 2019 numbers. Notwithstanding this, the number of Winding Up applications filed in Western Australia has increased from 19 (6% of the national monthly total in November) to 26 (14% of the national monthly total in December).
Formal Appointments in December 2018
There were a total of 767 formal appointments throughout Australia in December 2018, of which 286 (or 37%) were in New South Wales and 224 (or 29%) were in Victoria.
Running Analysis: From 1st of July 2018 there has been 1,875 Winding Up applications and 1,321 Court Liquidations. On a quarterly basis, Winding Up applications for the December quarter were 862 (compared to 1,013 in the September quarter) with 649 Court Liquidation appointments (compared to 672 in the September quarter).
Voluntary Administrations for the December quarter were 385 (compared to 325 in the September quarter) which equates to an 18% quarterly increase, whilst Creditors'/Members' Voluntary Liquidations decreased by 9% from 1,541 in the September quarter to 1,402 in the December quarter.
Rodgers Reidy is one of the foremost providers of insolvency, forensic and reconstruction services to distressed business 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.