Personal Bankruptcy and Liquidation of a Company: Information for people in business and their advisers
The Australian Financial Security Authority (AFSA), Australian Securities and Investments Commission (ASIC) and the Australian Restructuring Insolvency and Turnaround Association (ARITA) worked together to develop a new guide that explains some of the common pitfalls when individuals are running businesses that may be financially vulnerable and where that may have an impact on them personally.
ASIC is responsible for Australia’s corporate insolvency system and AFSA is responsible for the oversight of Australia’s insolvency system for individuals. Together with ARITA, the peak professional body for insolvency practitioners in Australia developed this guide by drawing on the expertise of each organisation.
Click here to view this guide.
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Important: This information is not advice. Readers should not act on the basis of the material included in this publication. We recommend that formal advice be obtained before acting in the area covered herein.