Life cycle of debt agreements

National debt agreement proposals as at 30 June 2021

In 2020–21, there were 4,488 debt agreement proposals received. Of these proposals, 89% reached the voting deadline.

Part IX debt agreements – proposal status as at 30 June 2021

These tables give a progressive summary of the outcome of each debt agreement proposal over the course of its life cycle as at 30 June 2021. We report these figures based on the date of lodgement of debt agreement proposals. These tables may not reconcile with figures provided in other tables.

Debt agreement activity

2016–17 2017–18

2018–19

2019–20

2020–21

Debt agreement proposals received

16,626 17,440

13,579

9,461

4,488

Proposals rejected by Official Receiver

554

504

565

539

337

Proposals accepted by Official Receiver for creditor vote

16,071 16,900

12,992

8,908

4,143

Proposals cancelled by Official Receiver during voting period

443 530

448

288

133

Proposals reaching voting deadline

15,628 16,370

12,544

8,620

4,010

Note: Due to changes in processing timings, systems changes and delays in status updates, these tables may not reconcile fully. We released the debt agreements online service in January 2018.

Outcome of proposals that reached voting deadline as at 30 June 2021

As at 30 June 2021, creditors accepted 3,485 debt agreement proposals in 2020–21 that reached the voting deadline.

This table shows a progressive summary of the outcome of debt agreement proposals that reached the voting deadline as at 30 June 2021. We report these figures based on the date of lodgement of debt agreement proposals. These tables may not reconcile with figures provided in other tables.

Debt agreement activity

2016–17 2017–18

2018–19

2019–20

2020–21

Reached voting deadline

15,628 16,370

12,544

8,620

4,010

Rejected by creditors or no vote received

1,818 1,663

1,047

1,304

525*

Accepted by creditors (new debt agreements)

13,811 14,707

11,497

7,316

3,485

* The voting period for creditors to vote on whether to accept a debt agreement proposal is generally five weeks. If we do not know the vote result on 30 June 2021, we report the outcome as ‘rejected by creditors or no vote received’.

Note: Due to changes in processing timings, systems changes and delays in status updates, these tables may not reconcile fully. We released the debt agreements online service in January 2018.

Outcome of new debt agreements as at 30 June 2021

On 30 June 2021, 43% of debt agreements lodged in 2016–17 were still active. As debt agreements run their course, this proportion becomes progressively lower for past years. 

This table shows a progressive summary of the outcome of new debt agreements as at 30 June 2021. We report these figures based on the date of lodgement of debt agreement proposals. These tables may not reconcile with figures provided in other tables.

Debt agreement activity

2016–17

2017–18

2018–19

2019–20

2020–21

Terminated by creditors/court

843 713 332 95 17

Terminated by six-month arrears default

1,541 1,603 882 305 54

Agreements completed

5,517 2,706 958 411 55

Agreements not yet completed

5,910 9,685 9,325 6,505 3,359

Note: Due to changes in processing timings, systems changes and delays in status updates, these tables may not reconcile fully. We released the debt agreements online service in January 2018.