June quarter 2020 statistics in for corporate and personal
insolvency.
The long-term downtrend in insolvency appointments has
accelerated in the June quarter 2020, with the largest quarterly
drops in both corporate and personal insolvency ever recorded.
Personal insolvency
The Australian Financial Security Authority (AFSA) personal
insolvency statistics for the June quarter of 2020 recorded an
overall drop of 35% from the June 2019 quarter. This is the largest
percentage fall in bankruptcy since quarterly statistics began in
1988.
Bankruptcies saw the largest decline, with a fall of 42%.
Bankruptcies are now at their lowest level since 1989. Debt
agreements also declined by a significant 25%, however, given
recent growth, were not at all-time lows. Personal insolvency
agreements also recorded a decrease of 10%, however on a
significantly lower number of appointments than bankruptcy and debt
agreements.
