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 August 2022.

Small Business Restructuring

During the month of August 2022, 39 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 any one (1) month since the legislation commenced on 1 January 2021.

Rodgers Reidy is one of the leading appointees for appointments in relation to Small Business Restructuring.  We have achieved excellent results for our clients, restructuring their businesses and saving the vast majority from a formal liquidation or administration. We urge directors to consider this option and act early.  Feel free to contact your local Rodgers Reidy office to discuss whether this option is right for your clients.

Winding Up applications filed with the Court in August 2022

Winding Up applications	Australia	NSW		VIC		QLD		WA		ACT		SA		NT		TAS
TOTAL	(No.)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)
	156	46	29	67	43	32	21	7	4	0	0	3	2	0	0	1	1

 

There were ten (10) winding up applications filed by the ATO in August 2022.

Formal Appointments in August 2022

Formal Appointments	Australia	NSW		VIC		QLD		WA		ACT		SA		NT		TAS
TOTAL	(No.)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)	(No.)	(%)
	768	341	44	207	27	121	16	46	6	10	1	38	5	0	0	5	1
Court Liquidation	80	24	30	33	41	12	15	6	8	0	0	5	6	0	0	0	0
Creditors’/Members’ Voluntary Liquidation	569	263	46	150	26	87	15	27	5	9	2	28	5	0	0	5	1
Voluntary Administration	119	54	45	24	20	22	18	13	11	1	1	5	4	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.

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