ASIC recently released their corporate insolvencies report for the 1st July 2013- 30th June 2014 financial year. This report collects and summarises information on the lodgements made by liquidators, receivers and voluntary administrators (external administrators) in the financial year for businesses that went insolvent. It gives us an insight into the
- number of businesses that failed
- the size of these businesses
- the reasons for them failing
- how much unsecured credit was never paid etc.
If you wish to view this report in full, you can find it here. In this article, I will be looking closely at certain pages in this document and bringing them into discussion.