Life cycle of debt agreements

Annual administration statistics for the life cycle of Part IX debt agreements.

National debt agreement proposals as at 30 June 2018

In 2017–18, there were 17,440 debt agreement proposals received. Of these proposals, 94% reached the voting deadline.

Part IX debt agreements – proposal status as at 30 June 2018

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 2018. 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 2013-14 2014-15 2015-16 2016-17 2017-18
   
Debt agreement proposals received 12,507 12,513 14,317 16,626 17,440
Proposals rejected by Official Receiver 242 256 430 554 504
Proposals accepted by Official Receiver for creditor vote 12,265 12,257 13,886 16,071 16,900
Proposals cancelled by Official Receiver during voting period 280 304 363 443 530
Proposals reaching voting deadline 11,985 11,953 13,523 15,628 16,370

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 2018

As at 30 June 2018, creditors accepted 14,707 debt agreement proposals in 2017–18 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 2018. 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 2013-14 2014-15 2015-16 2016-17 2017-18
Reaching voting deadline 11,985 11,953 13,523 15,628 16,370
Rejected by creditors or no vote received 829 1,045 1,375 1,819 1,663*
Accepted by creditors (new debt agreements) 11,156 10,908 12,148 13,810 14,707

* 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 2018, 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 2018

On 30 June 2018, 24% of debt agreements lodged in 2013–14 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 2018. 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 2013-14 2014-15 2015-16 2016-17 2017-18
Terminated by creditors/court 889 777 781 570 307
Terminated by six-month arrears default 1,142 1,219 1,155 728 420
Agreements completed 6,488 2,314 1,117 433 139
Agreements not yet completed 2,637 6,598 9,095 12,079 13,841