Media release
7 August 2024
FY24: a wild ride for insolvencies, latest Corporate Insolvency Index reveals
… the turbulence not yet over but more directors turn to restructuring
The 2024 financial year was a “shocker” for business insolvencies as the ATO turbo-charged its debt collection activities, according to the latest Corporate Insolvency Index from Insolvency Australia. And while the new financial year is starting out rocky with further high levels of insolvencies likely, more and more businesses are reaching for restructuring lifelines to survive the turbulence.
According to the Corporate Insolvency Index, in FY24, total appointments were 11,049 nationally, a 39% increase on FY23 (7,942)….
