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What is the Insolvency Risk Factor?

The Insolvency Risk Factor is the culmination of a major data analytics programme where court data was analysed against 10,000’s recent corporate insolvencies to identify the court actions most likely to lead to future insolvencies. The IRF provides a simple statistical measure of the potential impact of a company’s court actions. For example, a company with an IRF of 10 is statistically 10x more likely to become insolvent during the next 12months than a company with no court actions.

what is the insolvency risk factor - bicb

Extension to Temporary Protections for Financially Distressed Businesses – Is this just delaying the pain?

As anticipated the Federal Treasury announced on the 7th of September, that the temporary protections for financially distressed businesses will be extended beyond the initial six month period to 31 December 2020. Since the introduction of these measures in April 2020, the number of construction industry related insolvencies have decreased by 65%. This is an …

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BICB Partners with Alares to Provide Access to Party Searches and Monitoring for most Australian Courts

Court action is a leading indicator of financial stress and future default. Alares Party Search provides real-time information on court actions across Australia. Alares Watchlist provides instant alerts for any court actions that occur involving businesses you are monitoring. From mid-May 2019 BICB members will have access to the Alares Party Search and Monitoring platform …

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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 …

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Phoenix Taskforce Established

The Phoenix Taskforce comprises over 20 Federal, State and Territory government agencies, including the ATO, Australian Securities & Investments Commission (ASIC), Department of Employment, and the Fair Work Ombudsman.

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