ASIC Guides

Insolvency: A Glossary of Terms

This is a brief explanation of some of the terms you may come across in company insolvency proceedings.

A Guide for Directors

This information sheet provides general information on insolvency for directors whose companies are in financial difficulty, or are insolvent, and includes information on the most common forms of external administration.

A Guide for Shareholders

This information sheet gives general information for shareholders on the three most common forms of external administration (liquidation, voluntary administration and receivership).

Independence of External Administrators: A Guide for Creditors

This information sheet provides general information for unsecured creditors in a liquidation, voluntary administration or deed of company arrangement to help assess whether the external administrator is independent.

Approving Fees: A Guide for Creditors

This information sheet gives general information for creditors on the approval of an external administrator’s fees in a liquidation of an insolvent company, voluntary administration or deed of company arrangement (other forms of external administration are not discussed in this information
sheet). It outlines the rights that creditors have in the approval process.

Liquidation: A Guide for Creditors

This information sheet provides general information for unsecured creditors of companies in liquidation.

Liquidation: A Guide for Employees

This information sheet provides general information for employees of companies in liquidation.

Receivership: A Guide for Creditors

This information sheet provides general information for unsecured creditors of companies in receivership.

Receivership: A Guide for Employees

This information sheet provides general information for employees of companies in receivership.

Voluntary Administration: A Guide for Creditors

This information sheet provides general information for unsecured creditors of companies in voluntary administration.

Voluntary Administration: A Guide for Employees

This information sheet provides general information for employees of companies in voluntary administration.