Insolvency Statistics – May 2015
It’s been an interesting week in Europe. Apart from the, apparent, shock Conservative victory in the General Election, the Scottish National Party took 50 out of 56 Scottish seats. With the risk of a second referendum on Scottish Independence and the certainty of a referendum on the UK’s continued membership of the EU, it was no surprise the European markets were a little volatile.
Back home, the pain continues for farmers with prices dropping even further at the latest dairy auctions. With such a low dividend forecast, many farmers are seeking the support of their banks to allow them to continue.
The Kiwi dollar has dropped in anticipation of the Reserve Bank lowering interest rates. They have also indicated some form of regional measures may be considered to slow the housing bubble in certain areas. Certainly, house prices in Auckland have moved from the sublime to the ridiculous. That does not appear to be stopping developers buying up any large section capable of being sub-divided.
It will be interesting to see what comes out of next weeks budget. There are suggestions that the government will look to develop land in Auckland in an effort to boost supply and ease the pressure on prices.
Finally, the flash new Samsung S6 has hit shelves and the advertising war has started. Samsung’s clever use of Google Adwords to place their advert on the top of every search for the “iPhone 6s” was genius. It reads “Awkward. You Obviously – Mean S6 – samsung.com”
February, March & April Comparison of
Insolvency Appointments 2011, 2012, 2013, 2014 & 2015
What the figures are showing?
- There were 252 insolvency appointments in April 2015 which is significantly higher than March 2015 and an increase on April 2014. There were 9 receivership appointments, 241 liquidations recorded and 2 administrations.
- The total number of insolvency appointments for the year to date were 822 compared to 717 for 2014 and 856 for 2013.
- Applications made to the High Court to liquidate companies totaled 102 for April 2015, 67 of which were made by the IRD. This was the largest number of applications made in April of any years since 2011 when 101 applications were made.
Year to Date Comparison of Insolvency Appointments 2011 to 2015