This is a study of the topic of insolvency of a company leading to its wind up by either the members or the creditors, or alternatively how a company might be saved from liquidation. In this presentation you are required to address the following issues:
What are the signs that a company is insolvent, and what actions and proactivity is required of the directors in these circumstances?
What are the potential liabilities of company directors in the event of a company becoming insolvent?
What are the different avenues available to the company, in particular to the directors, if the company is presumed to be insolvent?
What is the difference between voluntary and involuntary interventions by different parties concerned by the potential insolvency of the company?
What might be a good outcome for a company other than being wound up by the creditors, and how might this be achieved?
What are the statistics on insolvency regarding Australian companies?
Are there any topical issues regarding insolvency of Australian companies?
What is the role of ASIC and any other statutory authorities regarding an insolvent company?