Bankruptcies by debtors’ petition and sequestration order
In 2018–19, 91% of new bankruptcies were by debtors’ petition (voluntary bankruptcies). This proportion did not change from 2017–18. The remaining 9% of new bankruptcies were by sequestration order (bankruptcies initiated by creditors).
|
State or territory |
Number of bankruptcies on debtors’ petition in 2017–18 |
Number of bankruptcies on debtors’ petition in 2018–19 |
Number of bankruptcies on sequestration order in 2017–18 |
Number of bankruptcies on sequestration order in 2018–19 |
|---|---|---|---|---|
|
NSW |
4,322 |
4,022 |
412 |
385 |
|
ACT |
167 |
138 |
19 |
19 |
|
Vic |
2,705 |
2,280 |
357 |
308 |
|
Qld |
4,587 |
4,239 |
420 |
343 |
|
SA |
1,042 |
928 |
97 |
81 |
|
NT |
135 |
133 |
24 |
11 |
|
WA |
1,883 |
1,837 |
177 |
245 |
|
Tas |
443 |
344 |
21 |
16 |
|
Total |
15,284 |
13,921 |
1,527 |
1,408 |
There were 5,127 people who were bankrupt sequestration order but had not submitted a statement of affairs. Of these, 75% became bankrupt at least 5 years ago.
|
Number of years since been made bankrupt by sequestration order |
Number of bankrupts who have not lodged a statement of affairs |
|---|---|
|
Less than one year |
158 |
|
One year |
365 |
|
Two years |
245 |
|
Three years |
284 |
|
Four years |
250 |
|
Five to ten years |
1,515 |
|
More than ten years |
2,310 |
|
Total |
5,127 |
Trustees administering new bankruptcies
The Official Trustee administers most new bankruptcies. In 2018–19, the Official Trustee administered 80% of bankruptcies. This is a fall from 81% in 2017–18.
|
State or territory |
Number of bankruptcies administered by the Official Trustee in 2017–18 |
Number of bankruptcies administered by the Official Trustee in 2018–19 |
Number of bankruptcies administered by registered trustees in 2017–18 |
Number of bankruptcies administered by registered trustees in 2018–19 |
|---|---|---|---|---|
|
NSW |
3,968 |
3,636 |
766 |
771 |
|
ACT |
138 |
121 |
48 |
36 |
|
Vic |
2,378 |
2,010 |
684 |
578 |
|
Qld |
4,092 |
3,773 |
915 |
809 |
|
SA |
970 |
835 |
169 |
174 |
|
NT |
124 |
119 |
35 |
25 |
|
WA |
1,588 |
1,517 |
472 |
565 |
|
Tas |
412 |
326 |
52 |
34 |
|
Total |
13,670 |
12,337 |
3,141 |
2,992 |
Declarations of intention
During 2018–19, declarations of intention provided temporary debt protection for 21 days. This protection prevents recovery action by unsecured creditors. We recently increased period this to six months. For more timely statistics, please see our fortnightly statistics.
In 2018–19, 397 declarations of intention were accepted, an increase of 2% from 2017–18. New South Wales and Queensland had the highest numbers of declarations of intention accepted in 2018–19.
|
State or territory |
Number of declarations of intention accepted in 2017–18 |
Number of declarations of intention accepted in 2018–19 |
|---|---|---|
|
NSW |
151 |
187 |
|
ACT |
3 |
8 |
|
Vic |
63 |
46 |
|
Qld |
78 |
87 |
|
SA |
23 |
9 |
|
NT |
1 |
6 |
|
WA |
63 |
46 |
|
Tas |
6 |
8 |
|
Total |
388 |
397 |