Insolvency is when a company or person can't pay debts when they are due

There are several options available to an insolvent company or person:

ASIC regulates companies, it does not manage personal insolvency procedures. For more information about bankruptcy and personal insolvency agreements, visit the Australian Financial Security Authority website.

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If you are owed money by an insolvent company, you are a creditor.

Search our notices to find out if an external administrator has been appointed over a company 🔍

ASIC also tracks and reports on corporate insolvency trends in Australia.

Insolvency reforms for small business came into effect on 1 January 2021. These reforms followed the temporary measures introduced in March 2020 in response to the COVID-19 pandemic. These measures only apply to eligible incorporated small businesses with liabilities of less than $1 million.

The reforms include a new:

Not sure what that insolvency term means? Our glossary can help.
Last updated: 26/05/2022 04:59