Corporate Insolvency

It is important that directors are aware of their statutory obligations under the Corporations Act regarding the management of a company, particularly in circumstances where it may be insolvent or likely to become insolvent. By not acting within certain time frames  directors can further and unnecessarily expose themselves financially. There are many forms of external administration to consider when examining the best option for the company and the various stakeholders including:

  • Voluntary Administration;
  • Deed of Company Arrangement;
  • Creditors Voluntary Liquidation;
  • Official Liquidation;
  • Provision Liquidation; and
  • Receivership.

Further information regarding these options are available from the Jones Partners website.