BICB Reported Liquidations by State
Members 60/90+ Debt – Sept Quarter 2018
The consolidated debt at 60/90 days for the Sep 2018 quarter was 5.66%. This was slightly lower than the Sep 2017 results. The 2017/2018 financial year average for outstanding debt at 60/90 days was 6.57%. This was a big improvement on the 2016/2017 results which averaged 7.72% for the year.
BICB Recorded Administrator Appointments
Since last reported, (in last month’s newsletter), we have recorded 12 Administrator appointments, 9 in December and 3 in January 2019. Company (Voluntary Administration) Appointed Region Woodhill & Sons Pty Ltd 03/12/2018 NT Niveau Pty Ltd 03/12/2018 WA Calatafirmi Enterprises Pty Ltd 03/12/2018 QLD Unity Group of Companies (2009) Pty Ltd 13/12/2018 SA Multidwell Group …
Industry Sector 60/90+ Debt
The equipment hire sector lead the field when it comes to outstanding balances at 60/90+ days, with an average of 17.3% for the three months ending 31 December 2018. The consolidated value of debt at 60/90 days at 31 December 2018 was $224,576,592 (8.7%).
BICB Recorded Liquidator Appointments, December 2018
We recorded 61 liquidator appointments in December 2018 and 35 appointments in January 2019. The appointments in December were the highest ever recorded by BICB. Company (In Liquidation) Appointed Region Zion Industries Pty Ltd 23/11/2018 QLD Allec Electrical Services Pty Ltd 23/11/2018 QLD KNG Scaffold Pty Ltd 30/11/2018 SA Platinum Homes & Additions Pty Ltd …
BICB Recorded Liquidator Appointments, December 2018 Read More…
BICB National Construction Industry Insolvency Statistics – July-December, 2018
In the first 6 months of the current financial year, (July to December) BICB reported liquidations averaged 50 per month compared to 25 per month last year. This is significantly higher, 100%, than last year. Growth in members data would account for some of this increase.
BICB Reported Liquidations in December 2018, Highest Ever Recorded
Liquidators were appointed to 61 companies listed in BICB’s database during the month of December 2018. This is the highest ever recorded for a single month by BICB. QLD-16, NSW-13, VIC-20, SA-4, WA-7, NT-1.
Unfair preferences – creditor’s defence of not suspecting insolvency
Just because a liquidator asserts you have received an unfair preference, does not necessarily mean you have or that there are no potential defences available to you. The Corporations Act 2001(Cth), enables liquidators in certain circumstances to claw back payments made by a debtor company to an unsecured creditor where the payment was made to …
Unfair preferences – creditor’s defence of not suspecting insolvency Read More…
Major changes to reporting requirements for QBCC licensees now in place
Changes to QBCC financial (effective from 1st January 2019) mean that licence holders in Categories 1-3 (turnover between $600,001 – $30,000,000) will need to provide reports annually about their financial position prepared under the Australian Accounting Standards including: – a profit and loss statement; – a debtors and creditors report; and – a statement of …
Major changes to reporting requirements for QBCC licensees now in place Read More…