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.
Employees who are owed certain employee entitlements after losing their job because their employer went bankrupt or into liquidation may be able to get financial help from the Australian Government.
ARITA is the professional body for insolvency practitioners in Australia and for those working in the field of business reconstruction and corporate and personal insolvency.
ASFA, formerly known as the Insolvency and Trustee Service Australia (ITSA), is the government agency responsible for the administration and regulation of the personal insolvency system in Australia. AFSA operates the bankruptcy registry, where debtors’ petitions are lodged.