When a company is no longer able to pay its debts and there is no realistic prospect of recovery, liquidation may be the only viable path forward. But what is liquidation in Australia, and what does it mean for directors, employees, and creditors? In this article, we break down how liquidation works, who gets paid first, and what to expect during the process.

Unpaid debts can put serious financial strain on businesses, particularly small and medium enterprises.

Voluntary administration is a formal insolvency process designed to provide financially distressed companies with breathing room to either restructure their operations or wind up in an orderly manner.

In this article, we will aim to answer some of the most common questions surrounding insolvent trading, providing clarity for business owners and directors who may be at risk.

When facing financial distress, small businesses now have a practical alternative to traditional insolvency routes: Small Business Restructuring (SBR).

Bankruptcy is a legal process available to an individual when they cannot pay their debts, allowing them to seek relief from those obligations.

When a company or individual faces liquidation or bankruptcy, insolvency notices can play a vital role in keeping you informed, helping you to make decisions to protect your business, and mitigation risks.

When a company enters liquidation, a liquidator’s role (among other things) is to conduct investigations, realise company assets and distribute the proceeds to the company’s creditors. In this article, we explore briefly the nature of an unfair preference claim as well as how to defend an unfair preference claim.

Businesses in Australia face an increasingly complex economic landscape characterised by high interest rates, escalating enforcement action from the Australian Taxation Office (ATO), and market volatility. These factors, among others, have contributed to a 35% increase in formal insolvency appointments during the period July 2023 to November 2023.