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Risk Watch Essentials – November 2022.

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Categories: UncategorizedDecember 14, 2022
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Categories: UncategorizedDecember 14, 2022

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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 November 2022.

Small Business Restructuring

During the month of November 2022, 41 companies appointed a Restructuring Practitioner in relation to the Debtor in Possession restructuring process for small businesses.

Rodgers Reidy is the leading appointee 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 an 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 November 2022

Winding Up applications Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
183 48 26 82 45 36 20 9 5 3 2 4 2 1 <1% 0 0

There were thirteen (13) winding up applications filed by the ATO in November 2022.  This is only a fraction of the number of the winding up applications that the ATO routinely filed prior to the pandemic.

Formal Appointments in November 2022

Formal Appointments Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
709 338 48 161 23 119 17 43 6 14 2 29 4 2 0 3 0
Court Liquidation 106 36 34 33 31 26 25 5 5 0 0 5 5 1 1 0 0
Creditors’/Members’ Voluntary Liquidation 496 257 52 99 20 77 16 21 4 14 3 24 5 1 <1% 3 <1%
Voluntary Administration 107 45 42 29 27 16 15 17 16 0 0 0 0 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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