Insolvency appointments on the rise

Data released by ASIC this week shows a strong rise in the number of companies entering external administration during the July-September 2011 quarter.

Overall, the number of insolvency appointments was up 11.5 per cent compared to the previous quarter and increased 18.5 per cent compared to the same quarter last financial year. ASIC's data shows that this increase was primarily due to large numbers of creditor-initiated court liquidations and receivership appointments.