Insolvency information sheets
The Australian Securities & Investments Commission has eleven (11) insolvency information sheets to assist you if you’re affected by a company’s insolvency and have little or no knowledge of what’s involved.
These plain language information sheets give directors, employees, creditors and shareholders a basic understanding of the three most common company insolvency procedures—liquidation, voluntary administration and receivership. There is an information sheet on the independence of external administrators and one that explains the process for approving the fees of external administrators. A glossary of commonly used insolvency terms is also provided.
The Australian Restructuring Insolvency & Turnaround Association (ARITA), the leading professional organisation in Australia for insolvency practitioners, endorses these publications and encourages its members to make their availability known to affected people.
Links to the insolvency information sheets, as produced by the Australian Securities & Investments Commission, are below:
- Insolvency: a glossary of terms [PDF] (INFO 41)
- Voluntary administration: a guide for creditors [PDF] (INFO 74)
- Voluntary administration: a guide for employees [PDF] (INFO 75)
- Liquidation: a guide for creditors [PDF] (INFO 45)
- Liquidation: a guide for employees [PDF] (INFO 46)
- Receivership: a guide for creditors [PDF] (INFO 54)
- Receivership: a guide for employees [PDF] (INFO 55)
- Insolvency: a guide for shareholders [PDF] (INFO 43)
- Insolvency: a guide for directors [PDF] (INFO 42)
- Independence of external administrators: a guide for creditors [PDF] (INFO 84)
- Approving fees: a guide for creditors [PDF] (INFO 85)
Links
Government
- Australian Securities of Investments Commission (ASIC)
- Australian Taxation Office (ATO)
- Australian Financial Security Authority (AFSA)
- Fair Work Commission
- Personal Property Securities Register (PPSR)
- Fair Entitlements Guarantee (FEG)
- ASIC Published Notices
Professional Associations
- Chartered Accountants Australia and New Zealand
- CPA Australia
- Australian Restructuring Insolvency & Turnaround Association (ARITA)
- Turnaround Management Association (TMA)
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