Insolvency statistics are up again. ASIC have published insolvency statistics for the financial year to February 2012. For the part financial year to February 2012 7,191 insolvencies have been recorded. The previous high for the same part year was 6,459 in 2009.
The insight from these statistics is the movement in the make up of the type of insolvency appointments.
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Current amounts updated
There are certain limits and thresholds which apply in bankruptcy and personal agreements through the Bankruptcy Act and Regulations. The Insolvency and Trustee Service Australia has updated these limits, current to 24 April 2012. An update can be found by following this link.