Corporate insolvencies rose almost 10 per cent last year, making 2011 the worst year for business failure in Australia since the depths of the financial crisis in 2008.Figures released by the Australian Securities and Investments Commission on Friday show that 10,481 companies entered external administration last year, compared with 9601 in 2010. Insolvencies jumped 21.2 per cent in 2008. ASIC's senior executive leader of insolvency practitioners, Adrian Brown, said in a statement that much of the increase was due to property-related business failures in Queensland.