KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER AUSTRALIAN LAW -

Companies -

Corporate insolvency in Australia mostly involves a company being placed in liquidation or administration.

Companies can be placed in liquidation by:

1. The directors, or

2. A creditor applying to the court, or

3. An oppressed minority shareholder applying to the Court, or

4. The shareholders, or

5. After an administration process, if a scheme of arrangement is not entered into by the company with its creditors.