A Guide to Voluntary Administration, Receivership, and Liquidation in Australia As a business owner, the thought of your company facing financial difficulties can be overwhelming. Corporate insolvency is a complex area of law that can have serious consequences for your business. Understanding the different types of corporate insolvency and how they work is crucial for continue reading
Before delving into the different types of corporate insolvency, it is important to understand the legal framework that governs insolvency in Australia. The main piece of legislation that deals with corporate insolvency is the Corporations Act 2001 (Cth) (the Act). The Act sets out the rules and procedures for dealing with companies that are in continue reading
The answer to the question “How do you determine if a company is insolvent?” is important because there are serious consequences for a director if debts are incurred after the company has become insolvent, including civil penalties, compensation proceedings and criminal charges. However, it is often difficult to know when a company has crossed the continue reading
If your company is in financial difficulty and heading towards insolvency, there are options available which allow a company to be guided through its financial distress. The best option for your company depends on the solvency of the company and the broad range of director duties and obligations. In this article, we examine the three continue reading
