Bankruptcy and liquidation: A guide for people in business
A new guide helps people in business understand personal bankruptcy leading to the liquidation of a company.
ARITA worked with the Australian Financial Security Authority (AFSA) and Australian Securities and Investments Commission (ASIC) to produce the six-page guide.
It helps those experiencing financial distress understand what it means for them personally and any company they own or operate.
The guide stresses the importance of getting the right advice early in the process and provides some warning signs for untrustworthy advisors.
Download the guide from the link below.
ASIC is responsible for Australia’s corporate insolvency system, AFSA is responsible for the oversight of Australia’s insolvency systems for individuals, and ARITA is the peak professional body for insolvency practitioners in Australia.
Development of the guide drew on the expertise of each organisation.