Insolvency practitioners (liquidators, administrators and receivers)
Registered Liquidators have defined roles under the Corporations Act 2001 which include exercising their discretion on how to administer the affairs of insolvent companies.
Those roles may be performed by Registered Liquidators in their capacity as Administrator, Deed Administrator, Liquidator, Restructuring Practitioner, Restructuring Practitioner of a Restructuring Plan or Receiver/Receiver & Manager.
Registered Liquidators may be required to determine who is and who is not a creditor of an insolvent company. Depending on the type of appointment, they act either:
- in the interests of creditors as a whole, or
- on behalf of a secured creditor whom they represent
subject to the requirements of the Corporations Act 2001.
For information about these roles:
Read ASIC's regulatory documents on insolvency (See Australian companies: Winding up companies and insolvent external administration) and Insolvency).
Note that 'insolvency practitioner' is also a term often used to describe a person who has qualifications and/or expertise to provide some but not necessarily all insolvency related services that a Registered Liquidator provides.
If there is evidence that a Registered Liquidator or their staff, contractors or advisors have acted illegally or improperly with respect to a company, we may consider taking action as set out in the links below: