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Corporate insolvency in Australia is governed by the Corporations Act 2001 (Cth) and the accompanying rules and regulations. The regime is regulated by the Australian Securities and Investments Commission (“ASIC”)
The Australian Restructuring Insolvency and Turnaround Association (“ARITA”) represents professionals who specialise in the fields of restructuring, insolvency and turnaround.
Both ASIC and ARITA publish a series of guides and information sheets about insolvency, which may be relevant to directors, creditors, employees or other stakeholders. These information sheets provide a basic explanation of the most common company insolvency procedures, creditors rights as well as other topics.
Please use the links below to access copies of these information sheets and other relevant documents.
General Information
ASIC Information Sheets:
For Shareholders
For Creditors
- Creditor rights (liquidation)
- Creditor rights (voluntary administration)
- Remuneration of an external administrator
- Proposals without meetings
- Committees of Inspection
- Offences and recoverable transactions in a voluntary administration
For Employees
ASIC Information Sheets:
- INFO 46 Liquidation: A guide for employees
- INFO 75 Voluntary administration: A guide for employees
- INFO 55 Receivership: A guide for employees
- The Fair Entitlements Guarantee (FEG)
Through the Fair Entitlements Guarantee (“FEG”) scheme, the Australian Government provides financial assistance to cover certain unpaid employment entitlements to eligible employees who lose their job due to the liquidation or bankruptcy of their employer.
FEG publishes the following information sheets for employees:
- General information for claimants
- What assistance can FEG provide fact sheet
- How do I apply for FEG assistance fact sheet
- How do I access FEG Online Services fact sheet
- Eligibility for FEG assistance fact sheet
- How we assess FEG claims fact sheet
- How tax is withheld under FEG fact sheet
- Reviewing a FEG decision fact sheet
- TCF contract outworkers scheme fact sheet
- Protecting your information
- Role of an agent fact sheet
Downloads
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