Safe Harbour A shelter from the storm

Dr. Stephen van der Mye
Honorary Adjunct Professor, Faculty of Law, Bond University

Corporate Insolvency Overview

The Australian Securities and Investments Commission (ASIC) has reported a significant rise in corporate insolvencies. Data from July 2023 to March 2024 shows a 36.2% increase, with 7,742 companies entering external administration. This surge is most pronounced in the construction and accommodation/food services industries, which together account for over 40% of these insolvencies. ASIC projects that by June 30, 2024, the number of companies entering external administration will exceed 10,000a level not seen since 2012-2013.

The repercussions of these insolvencies are wide-reaching:

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Read the full article at: https://bond.edu.au/blog/safe-harbour-a-shelter-from-storm