Dec 2013 Quarter Stats

Provisional personal insolvency activity December quarter 2013

State/territory Bankruptcies (Parts IV and XI) Debt agreements (Part IX) Personal insolvency agreements (Part X) Total personal insolvency activity
NSW 1582 893 12 2487
ACT 48 47 1 96
Vic 1043 482 24 1549
QLD 1351 748 16 2115
SA 325 128 2 455
NT 29 26 0 55
WA 327 194 5 526
Tas 139 71 0 210
Total 4844 2589 60 7493

Note 1: All the above figures refer to personal administrations under the Bankruptcy Act only (and not corporate insolvency).

Note 2: Provisional statistics are correct at the date of compilation. Verified annual figures for all types of personal insolvency administrations are available from the Annual Report.

 

Key points

  • The number of debt agreements in the December quarter 2013 is the highest number on record in a quarter. The proportion of debtors entering a business related debt agreement in the December quarter 2013 is the highest proportion recorded since the March quarter 2003.
  • Debt agreements in New South Wales and Queensland in the December quarter 2013 are the highest number on record in a quarter.
  • The increase in debt agreements did not offset falls in bankruptcies and personal insolvency agreements. As a result, total personal insolvency activity fell 4.49% in the December quarter 2013 compared to the December quarter 2012.
  • All three types of personal insolvency increased in the Australian Capital Territory in the December quarter 2013 compared to the December quarter 2012. This was the only state or territory where this occurred.
  • All three types of personal insolvency activity fell in South Australia and Western Australia in the December quarter 2013 compared to the December quarter 2012.

Total personal insolvency activity

Total personal insolvency activity fell 4.49% in the December quarter 2013 (7 493) compared to the December quarter 2012 (7 845) and rose 0.15% compared to the September quarter 2013 (7 482).

The decrease in total personal insolvency activity in the December quarter 2013 compared to the December quarter 2012 was the result of falls in total personal insolvency activity in:

  • Queensland (-5.87%)
  • Western Australia (-16.90%)
  • New South Wales (-2.70%)
  • South Australia (-7.33%)
  • Tasmania (-10.26%)
  • Northern Territory (-6.78%).

These falls were partly offset by rises in:

  • Australian Capital Territory (23.08%)
  • Victoria (0.13%).

The 4.49% fall in total personal insolvency activity in the December quarter 2013 compared to the December quarter 2012 follows an 8.70% fall in the September quarter 2013 compared to the September quarter 2012.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity December quarter comparison

Bankruptcies

The number of bankruptcies fell 7.89% in the December quarter 2013 (4 844) compared to the December quarter 2012 (5 259) and fell 2.50% compared to the September quarter 2013 (4 968).

The decline in bankruptcies in the December quarter 2013 compared to the December quarter 2012 was the result of decreases in the number of bankruptcies in:

  • Queensland (-12.39%)
  • New South Wales (-8.66%)
  • Western Australia (-14.84%)
  • South Australia (-7.14%)
  • Victoria (-0.10%)

These falls were partly offset by rises in:

  • Australian Capital Territory (14.29%)
  • Tasmania (1.46%)
  • Northern Territory (3.57%)

The 7.89% fall in bankruptcies in the December quarter 2013 compared to the December quarter 2012 follows a fall of 12.70% in the September quarter 2013 compared to the September quarter 2012.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcy December quarter comparison

Debt agreements

The number of debt agreements in the December quarter 2013 is the highest number on record in a quarter. The number of debt agreements increased 3.15% in the December quarter 2013 (2 589) compared to the December quarter 2012 (2 510) and rose 5.29% compared to the September quarter 2013 (2 459).

The increase in debt agreements in the December quarter 2013 compared to the December quarter 2012 was the result of increases in the number of debt agreements in:

  • New South Wales (11.49%)
  • Queensland (8.25%)
  • Australian Capital Territory (30.56%).

These increases were partly offset by falls in:

  • Western Australia (-17.80%)
  • Tasmania (-25.26%)
  • South Australia (-5.88%)
  • Victoria (-0.82%)
  • Northern Territory (-10.34%).

The 3.15% rise in debt agreements in the December quarter 2013 compared to the December quarter 2012 follows a rise of 1.53% in the September quarter 2013 compared to the September quarter 2012.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements December quarter comparison

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.80% of total personal insolvency activity in the December quarter 2013.

The number of personal insolvency agreements decreased 21.05% in the December quarter 2013 (60) compared to the December quarter 2012 (76) and increased 9.09% compared to the September quarter 2013 (55).

The fall in personal insolvency agreements in the December quarter 2013 compared to the December quarter 2012 was the result of decreases in the number of personal insolvency agreements in:

  • New South Wales (-47.83%)
  • Western Australia (-61.54%)
  • South Australia (-60.00%)
  • Tasmania (-100.00%)
  • Northern Territory (-100.00%).

These decreases were partly offset by rises in:

  • Victoria (41.18%)
  • Queensland (14.29%).

The Australian Capital Territory recorded one personal insolvency agreement in the December quarter 2013, up from zero in the December quarter 2012.

The 21.05% fall in personal insolvency agreements in the December quarter 2013 compared to the December quarter 2012 follows a fall of 32.93% in personal insolvency agreements in the September quarter 2013 compared to the September quarter 2012.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements December quarter comparison