Plain-English resources for directors, creditors, employees and stakeholders trying to understand insolvency processes and notices.
Directors often seek advice when cash flow becomes tight, creditor pressure increases, ATO debt builds, or there is uncertainty about whether the company can continue trading.
Creditors may need to understand whether to lodge a proof of debt, attend a meeting, vote on a proposal or monitor liquidation and administration notices.
Employees may be concerned about unpaid wages, leave, redundancy, superannuation, ongoing employment and how they rank in an insolvency process.
Insolvency notices are formal public notices that record key events such as appointments, meetings, proof of debt deadlines, dividend intentions, court applications and deregistration steps.
Not always. Some businesses continue trading during an administration, receivership or restructuring process where that is appropriate.
As soon as there are signs the company may not be able to pay debts when due. Early advice generally preserves more options.
Possibly. Recoveries depend on the company’s assets, creditor priority, claims and the outcome of the process.
No. It provides general information only. Specific advice depends on the facts of the matter.