The tables in the following link summarise data essentials captured from Rodgers Reidy's daily Risk Watch publication, which provides a synopsis of the insolvency market for July 2020 including:
- No. of Registered Liquidators in Australia as at July 2020
- Winding Up applications filed with the Court in July 2020
- Formal Appointments in July 2020
Click here to read Risk Watch Essentials
The tables and graphs (found here) below show that the Covid stimulus measures introduced have had a drastic effect on the number of insolvency and winding up procedures.
For the month of July 2020 compared to July 2019, the data indicates a significant reduction in the number of reported events.
- Winding up Applications are down by 85%. The ATO did not file any winding up applications in July 2020. This is consistent with our understanding that during this period the ATO is more focused on business support measures than recovery procedures;
- Court Liquidations are down 64%;
- Voluntary Administrations are down 34% but after adjusting the figures to record multiple companies in a group as a single appointment (e.g.iProsperity Group Pty Ltd) Voluntary Administrations are down 45%;
- Voluntary Liquidations are down 30%.