Start here
Start with a broad topic, then explore detailed information, common questions and related processes.
Bankruptcy is a legal process where a bankruptcy trustee is appointed to administer an insolvent person’s affairs, in order to provide for a fair distribution of that person’s divisible assets to their creditors.
Corporate insolvency refers to a situation where a company is unable to meet its financial obligations as they come due. This means the company lacks sufficient cash flow or assets to pay off debts owed to creditors.
Directors are liable for a range of company debts and lodgements; and have a duty not to trade while insolvent.
The small business restructuring (SBR) process allows a small business that has found itself in an uncertain financial position to propose a single offer to its creditors seeking to settle its debts for a lesser sum than is owed.
Liquidation is a formal process to dismantle a company’s affairs. It can provide relief to those running the company by placing company control into the hands of a third party - a liquidator. The liquidator then deals with the company’s operations and its debts.
Voluntary administration allows businesses to address insolvency issues, and if possible, return it to healthy trading position.
These are the key monetary thresholds and time limits that apply in relevant insolvency appointments.
Business can be tough
Our team is focused and ready to help
Get in touchSubscribe for all the latest help and news
Subscribe