Insolvency information for directors, employees, creditors and shareholders

This information sheet (INFO 39) lists ASIC's information sheets for directors, employees, creditors and shareholders affected by a company's insolvency.

We have produced these with endorsement from the Australian Restructuring Insolvency & Turnaround Association (ARITA).

The information sheets give a basic understanding of the three most common company insolvency procedures – liquidation, voluntary administration and receivership – as well as the independence requirements for external administrators and approving external administrator remuneration. There is also a glossary of commonly used insolvency terms.

List of information sheets

  • INFO 41 Insolvency: A glossary of terms
  • INFO 42 Insolvency: A guide for directors
  • INFO 43 Insolvency: A guide for shareholders
  • INFO 45 Liquidation: A guide for creditors
  • INFO 46 Liquidation: A guide for employees
  • INFO 54 Receivership: A guide for creditors
  • INFO 55 Receivership: A guide for employees
  • INFO 74 Voluntary administration: A guide for creditors
  • INFO 75 Voluntary administration: A guide for employees
  • INFO 84 Independence of external administrators: A guide for creditors
  • INFO 85 Approving fees: A guide for creditors

Where can I get more information?

Further information is available from the ARITA website. The ARITA website also contains the ARITA Code of Professional Practice for Insolvency Practitioners.

This is Information Sheet 39 (INFO 39) updated on 1 September 2017. Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.

What's new

Revised RATA – the new ROCAP is on its way

ASIC’s project to launch a revised RATA (now ROCAP - Report On Company Activities and Property) is nearing an end after an extensive process including law reform and industry consultation.

ASIC works to ensure registered liquidators comply with obligations

An ASIC review has found that while registered liquidators are mostly doing the right thing when complying with their lodgement and publication obligations, there is room for improvement. 18-172MR. 13 June 


Industry funding

The Government has introduced new laws that change the way ASIC is funded. Regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year. Find out what this means for registered liquidators.



Insolvency Law Reform Act 2016

Releases on insolvency

Liquidator registration applications

Insolvency statistics


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ASIC Corporate Insolvency Update

Published notices

View insolvency and deregistration notices on the published notices website.

ASIC and registered liquidators

Last updated: 01/09/2017 10:57