ASIC reports: Corporate insolvencies on the rise

Official figures released by ASIC today show that corporate insolvencies have risen 4.4 per cent across Australia in the 2010-2011 financial year.

ASIC says the figures show that, Australia-wide, the number of court liquidations and director initiated creditors voluntary liquidations have risen, but that the number of receivership and voluntary administration appointments have fallen.

ASIC's press release, which also provides a breakdown of the figures by state and by appointment type is available on its website.