At Cathro & Partners, we provide live access to ASIC insolvency statistics through our website dashboard, Cathro Clarity, enabling stakeholders to track insolvency trends and market movements in near real time.
When the Small Business Restructuring (SBR) regime was introduced in FY21–22, initial uptake was modest, with just 37 restructuring plans recorded nationally in its first year. Appointment volumes increased materially in subsequent periods before moderating more recently.
While SBR appointments appear to have peaked in the short to medium term, overall insolvency appointment volumes have remained relatively steady when comparing FY25 with FY26 year-to-date (YTD).
In real terms, during FY24–25 there were 2,139 SBR restructuring plans, representing approximately 10.6% of total corporate insolvency events for the year. This compares with approximately 6.8% in FY23–24 and approximately 7.9% in FY26 YTD.
The stabilisation in SBR volumes aligns with widely observed increased scrutiny by creditors, particularly the ATO. The ASIC data suggests tighter creditor engagement and more selective use of the SBR regime as it has matured.
In contrast, Voluntary Administration (VA) appointment numbers have remained relatively stable. On a pro-rata basis, VA volumes have held broadly consistent across FY23–24, FY24–25 and FY26 YTD.
Deeds of Company Arrangement (DOCAs) continue to represent a steady outcome of the VA process. While year-to-year conversion rates fluctuate, the data indicates that VA remains an important and effective restructuring pathway, particularly in more complex or contested matters.
When viewed against other voluntary forms of external administration, SBR represents a significant but not dominant proportion of total insolvency activity. Creditors’ Voluntary Liquidations (CVLs) continue to account for the majority of appointments, with SBR, VA and Court Liquidations operating as complementary tools within the broader restructuring framework.
Cathro Clarity data also allows for industry-level analysis. In the Transport sector, Court Liquidations account for approximately 48% of appointments in FY26 YTD, compared with Retail (18%) and Construction (24%). In contrast, Mining records a higher proportion of VA appointments at approximately 30%, compared with Accommodation and Food Services at just 9%.
As market conditions, creditor behaviour and regulatory expectations continue to evolve, access to timely and reliable insolvency data remains critical. Our live ASIC dashboard will continue to monitor appointment volumes and emerging trends to support informed decision-making.
