Corporate insolvency in Australia is a regulated industry through the Corporations Act 2001 (Cth). Corporate insolvency occurs when a business can no longer maintain its financial commitments when they fall due, your debts out-weigh the value of your assets and there is no other option available. To continue to trade whilst insolvent is illegal and there are severe consequences. When a business that is experiencing financial distress reaches a point where its continued trading is jeopardised, it may be necessary for the directors to consider a formal insolvency appointment. Formal insolvency appointments can take the following forms:
We can also assist with Deregistration (or Dissolution) where a company has no assets or liabilities.
Click here for a list of Information Sheets prepared by the Australian Securities & Investments Commission in relation to Corporate Insolvency Appointments
For more information on the different types of corporate or personal insolvency and how AMB Insolvency can assist you, please follow the below links or contact us.
Insolvency Advice
AMB Insolvency draws on its insolvency and turnaround management experience to work with clients and their advisors to identify the key triggers of the financial stress and consider all available options available to alleviate problems.
We will offer confidential and straightforward advice, and can assist in:
the examination of the current financial position of the business;
providing an assessment of the viability of the business;
discussing the options available and the nature and consequences of an insolvency appointment;
recommendation of an appropriate course of action.
We will advise you of the best solution to your financial crisis, simply, plainly and in a sensitive manner.
For more information on the different types of corporate or personal insolvency and how AMB Insolvency can assist you, please follow the below links or contact us.
