Voluntary administration

The Complete Guide to Voluntary Administration

Estimated reading time: 40 minutes

Voluntary administration is a process where a registered insolvency professional temporarily takes control of a business which is insolvent, or in financial difficulty. This professional, the ‘voluntary administrator’, takes away control from the directors, for a period of time, in order to assess the finances and determine the future of the business.

What is the role of solicitors in the restructuring of insolvent SMEs today?

What is the role of solicitors in the restructuring of insolvent SMEs today?

Estimated reading time: 13 minutes

In article: The COVID-19 economic meltdown has already led to some quick changes to Australian bankruptcy and insolvency law. However, as the basic tools for dealing with insolvency remain the same, it is worth looking at the general regulatory landscape…

Is your business insolvent because of COVID-19? What to do next (for SMEs)

Is your business insolvent because of COVID-19? What to do next (for SMEs)

Estimated reading time: 12 minutes

Business owners need to be realistic about the collectability of invoices and be ruthless with cutting expenses to deal with a potential economic depression. They also need to look to the future and pivot their business strategy because the world has changed.

Hit pause on appointing a voluntary administrator during Covid-19

Hit pause on appointing a voluntary administrator during COVID-19

Estimated reading time: 5 minutes

The new Coronavirus Economic Response Package Omnibus Act 2020 (the Coronavirus Economic Response Act) has just come into force. This Act contains a range of new measures to support businesses through the Coronavirus/COVID-19 pandemic and its consequences.

When is a construction company insolvent?

When is a construction company insolvent?

Estimated reading time: 8 minutes

How do we determine if a construction company is insolvent? Insolvency, as defined under Section 95A of the Corporations Act 2001 (Cth), occurs when a business or an individual is unable to meet their debts as they become due and payable.

How do you appoint a receiver?

How do you appoint a receiver?

Estimated reading time: 6 minutes

A receiver must be an independent and suitably qualified individual. This means, in nearly all cases, that the receiver must be a registered liquidator and satisfy a range of other requirements that apply to receivers.