Risk Watch Essentials May 2022

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 May 2022. 

Small Business Restructuring

During the month of May, 2022, sixteen (16) companies appointed a Restructuring Practitioner in relation to the Debtor in Possession restructuring process for small businesses. This is the highest number of Small Business Restructuring appointments in one (1) month since the legislation commenced on 1 January 2021.

Rodgers Reidy is the leading appointee for appointments in relation to Small Business Restructuring.  We have achieved excellent results and saved most of the companies to which we have been appointed from a formal liquidation or administration.  We urge directors to consider this option and act early.  Feel free to contact a director from your local Rodgers Reidy office to discuss whether this option is right for you.

Winding Up applications filed with the Court in May 2022

Winding Up applications    Australia    NSW    VIC    QLD    WA    ACT    SA    NT    TAS   
TOTAL    115    27 (23%)    52 (45%)    21 (18%)    8 (7%)    1 (1%)    6 (5%)    0 (0%)    0 (0%)

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

Formal Appointments in May 2022

Formal Appointments    Australia    NSW    VIC    QLD  WA    ACT    SA    NT    TAS
TOTAL 711 336 (47%) 160 (23%) 139 (20%) 38 (5%) 7 (1%) 29 (4%) 0 (0%) 2 (0%)
Court Liquidation 78 19 (24%) 29 (37%) 17 (22%) 6 (8%) 2 (3%) 5 (6%) 0 (0%) 0 (0%)
Creditors'/Members' Voluntary Liquidation 538 273 (51%) 106 (20%) 100 (19%) 29 (5%) 5 (1%) 24 (4%) 0 (0%) 1 (0%)
Voluntary Administration 95 44 (46%) 25 (26%) 22 (23%) 3 (3%) 0 (0%) 0 (0%) 0 (0%) 1 (1%)

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.

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