Australia: Insolvency/Bankruptcy

When you’re under pressure, making the first call can feel like stepping into the unknown. People often worry they’ll be judged, rushed, or pushed into a one‑size‑fits‑all solution.

Facing overwhelming debt can feel isolating, but understanding your options is the first step toward financial recovery. Whether you're considering informal repayment arrangements, formal debt agreements, or bankruptcy, each pathway offers distinct advantages depending on your circumstances. This comprehensive guide breaks down the three main personal insolvency options available in Australia, helping you determine which solution best fits your financial situation.

John Melluish, CEO of ARITA, discusses the evolution of Australia's insolvency landscape from the 1980s boom to today's post-COVID environment. The conversation examines the increasing role of the ATO, stakeholder expectations, modern regulatory challenges including AML obligations, and the future direction of insolvency reform and practitioner education.

In the course of doing business, there are many situations where you may need to confirm whether a company has entered or is about to enter liquidation.

Silence can amount to misleading or deceptive conduct under Australian law where, in context, it creates or allows a false impression to persist.

Subcontractor payment rights in Queensland are governed by the Building Industry Fairness (Security of Payment) Act 2017 (Qld), which establishes a comprehensive statutory regime designed to protect cash flow in the construction industry.

Administrators should be careful to respond appropriately to the changing conditions of a company under administration.

When a company goes into liquidation, the appointed liquidator effectively steps into the shoes of the directors and assumes control of all company records.

Voluntary administration is governed by Part 5.3A of the Corporations Act 2001.