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.

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.