Home » Risk Watch Essentials – April 2023

Risk Watch Essentials – April 2023.

Categories: Uncategorized16/05/2023
Categories: Uncategorized16/05/2023


Risk Watch Essentials

SBR Presentation to ARITA Conference

Brent Morgan, Cassandra Risteska and Alex Mendez of our Victorian office together with Gary Busby of the ATO recently presented to the Victorian Restructuring, Insolvency and Turnaround conference providing market insights and an analysis of the benefits to creditors and small businesses alike, from the new laws around Small Business Restructures (SBR).  The ATO is often the major creditor of a small business. The costs of the process are materially lower than for a voluntary administration and the Directors remain in control of the company while the restructuring plan is proposed.  Rodgers Reidy continues to be a market leader in the adoption of the SBR laws and has a 100% success rate on all SBRs proposed.

If you would like us to present to your office on this or other topics, please feel free to reach out to your local office.

Small Business Restructuring

During the month of April 2023, 23 companies appointed a Restructuring Practitioner.

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

As the graph below demonstrates, there has been a dramatic increase in the number of companies utilising the SBR laws.  The increased use of the SBR laws reflects an increase in collection activity by the ATO and a greater understanding of the laws themselves.  Feel free to contact your local Rodgers Reidy office to discuss whether this option is right for your clients.

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 April 2023.

Winding Up applications filed with the Court in April 2023

Winding Up applications Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
203 74 36 72 35 45 22 4 2 0 0 4 2 1 0 3 1


There were fifty-four (54) winding up applications filed by the ATO in April 2023 compared with thirty-seven (37) in March 2023.

Formal Appointments in April 2023

Formal Appointments Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
700 354 51 165 24 106 15 27 4 14 2 26 4 1 <1 7 1
Court Liquidation 465 242 52 109 23 65 14 13 3 10 2 20 4 0 0 6 1
Creditors’/Members’ Voluntary Liquidation 122 53 43 32 26 23 19 6 5 0 0 6 5 1 1 1 1
Voluntary Administration 113 59 52 24 21 18 16 8 7 4 4 0 0 0 07 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.

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