There’s a plenty of detail in Grow Advisors’ latest insolvency analytics about who’s leading, who holding their place and who’s lost ground in the 2nd Quarter of the 2018/19 financial year.
The analysis – compiled using publicly available data on external administrations (EXADS) – shows that nationally Worrells remains the front runner after locking in a total of 157 appointments between October 1, 2018 and December 31, 2018.
Of the total, 96 comprised creditors voluntary liquidations (CVLs).
Worrells also secured 28 court appointed liquidations (CALs); 23 voluntary administrations (VAs); six Deeds of Company Arrangement (DoCA); three receivership/manager appointments and one appointment as provisional liquidator (ProvLiq).
In 1st Quarter FY 2018/19 Worrells smashed its rivals, raking in 174 CVLs out of a total 231 appointments, which also included 25 court-appointed liquidations (CLs), and 24 voluntary administrations (VAs) for the period from July 1 to September 30, 2018.
Second place getter in 2nd Quarter 2018/19 Cor Cordis was well behind on the CVL front with 54 CVLs; but logged 20 CALS; 18 VAs; seven DoCAs; 14 appointments as receiver/manager; two as a controller and one as receiver.
Showing what a merger can do for the composition of your formal appointment profile was PwC.
Boosted no doubt by the inclusion of PPB Advisory’s appointments following the completion of the takeover in August 2018 the big four firm moved into third place with 42 CALs; 30 CVLs; 19 VAs; nine receiver.manager appointments; three DoCAs; one ProvLiq and a receivership.
Grow Advisors’ latest stats also provide detailed numbers on firm performance by state and individual liquidator performance by appointment.
Managing director Tony Sivaa said the statistics revealed that the much anticipated lift the industry keeps expecting is yet to materialise.
“We saw an approximate 8 per cent decline in overall formal appointments in the latest quarter,” Sivaa said.
Another statistic of note demonstrated the willingness of practitioners to seek work interstate.
“25 per cent of appointments went to liquidators based in a different state to the company – that’s about 500 appointments,” Sivaa said.
“People are looking to grow and this shows there’s a lot of work going on across borders,” he said.
To obtain your copy of the report contact: https://www.growadvisors.com.au/research/insolvency-analytics
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