Home » Risk Watch Essentials – September 2023

Risk Watch Essentials – September 2023.

Categories: Uncategorized17/10/2023
Categories: Uncategorized17/10/2023


Risk Watch Essentials

Rodgers Reidy International Conference
It was great to hold the RR International conference last week in Vietnam with affiliates from Australia, NZ,and Asia. A highlight was the session chaired by RR Australian Banking and FInance Director, Charles Saliba. Thanks to everyone for their contributions to make this the best conference ever. We look forward now celebrating the 25th anniversary of RR next year.

Small Business Restructuring

During the month September 2023, 50* companies appointed a Restructuring Practitioner out of a population of around 990,000 small companies in Australia.

Small business restructure appointments

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

*Provisional. The graph has been adjusted from last month to take account of final figures released by ASIC post publication.
Our understanding of the market is that small businesses are coming under greater and greater financial pressure in the current economic climate. For any small business with an otherwise viable business model, an SBR should be the restructuring tool of choice to relieve historical debt problems. The message is just not getting out there that SBR can save your small business at least cost and interruption.  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 September 2023.

Winding Up applications filed with the Court in September 2023

Winding Up applications Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
302 101 33 138 46 37 12 19 6 1 0 5 2 1 0 0 0


There were one-hundred seven (107) winding up applications filed by the ATO in September 2023 compared, coincidently, with one-hundred seven (107) in August 2023.

Formal Appointments in August 2023

Formal Appointments Australia NSW VIC QLD WA ACT SA NT TAS
TOTAL (No.) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%)
777 361 46 221 28 110 14 40 5 13 2 29 4 2 0 1 0
Court Liquidation 210 82 39 84 40 29 14 8 4 1 0 5 2 1 0 0 0
Creditors’/Members’ Voluntary Liquidation 474 239 50 116 24 71 15 17 4 8 2 21 4 1 0 1 0
Voluntary Administration 93 40 43 21 23 10 11 15 2 4 4 3 3 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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