Insolvency Statistics – September 2015
Dairy, Dairy, Dairy! The global prices are going back up but Fonterra is being tight lipped on whether the payout to farmers will increase. Is it a case of too little too late for some in the industry? Interestingly, we have recently commenced the liquidation of a supplier to the dairy sector. It appears the suppliers are starting to struggle.
Interest rates are down again with the Reserve Bank suggesting a further cut (or cuts) might be in the pipeline. This has had a swift effect on reducing mortgage rates to new lows. Many pundits are commenting that areas outside of Auckland have had their prices pushed up (mostly by Aucklander’s escaping the high city prices) while the Auckland market seems to be calming down. Is that due to the financial problems in China preventing overseas investors, or perhaps our new residents from that region, from bringing their capital over here?
Overseas, the US Federal Reserve … well, they did nothing. Despite all the hype of their highly anticipated press conference, their official rate stayed the same. The kiwi dollar rose on the back of that news. No great surprise there.
In Europe, the Syrian refugee crisis has gotten worse and the humanitarian cost of the crisis is escalating rapidly. The economic costs will take a lot longer to identify.
On the technology front, Apple has launched more stuff! Unfortunately, none of it was particularly awe inspiring (and that’s coming from an Apple fan!). Perhaps, we should all go back to Nokia bricks for a month or two in order to remind ourselves how far the technology has come!!
June, July & August Comparison of
Insolvency Appointments 2011, 2012, 2013, 2014 & 2015
What the figures are showing?
- There were 178 insolvency appointments in August 2015 which is down on previous four years. There were 11 receivership appointments, 167 liquidations recorded and no administrations.
- The total number of insolvency appointments for the year to date were 1606 which is lower than previous years.
- Applications made to the High Court to liquidate companies totaled 78 for August 2015, 53 of which were made by the IRD.
Year to Date Comparison of Insolvency Appointments 2011 to 2015