Insolvency information sheets

ASIC has 11 insolvency information sheets to assist you if you’re affected by a company’s insolvency and have little or no knowledge of what’s involved.

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. There is an information sheet on the independence of external administrators and one that explains the process for approving the fees of external administrators. A glossary of commonly used insolvency terms is also provided.

The Australian Restructuring Insolvency & Turnaround Association (ARITA), the leading professional organisation in Australia for insolvency practitioners, endorses these publications and encourages its members to make their availability known to affected people.

You can download a copy of the following insolvency information sheets as PDF files:

List of information sheets

ASIC has also issued a list of these information sheets. ASIC asks practitioners to provide a copy of this list or of the relevant information sheet(s) to those affected by a company's insolvency.

Download a copy of the list of insolvency information sheets (PFD)

The information sheets are also available from the ARITA website at www.arita.com.au. The ARITA website also contains the ARITA's Code of Professional Practice for Insolvency Professionals, which applies to ARITA members.

More information

More information about insolvency

This is Information Sheet 39 (INFO 39). Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.

What's new

ASIC reports on corporate insolvencies 2013 -2014

Read our annual overview of corporate insolvencies based on statutory reports lodged by external administrators for the 2013–14 financial year. 14-254MR. 29 Sep 2014

More releases on insolvency

Latest liquidator registration applications

Latest insolvency statistics

Insolvency notices

View insolvency and deregistration notices on the published notices website.

Video

Jp Illegal Phoenix

ASIC Commissioner John Price talks about insolvency and illegal phoenix activity.

Watch the video

Transcript to come.

Last updated: 17/10/2014 08:04