International Law

Insolvency law reform: corporate insolvency information for directors, employees, creditors and shareholders

Insolvency law changed on 31 December 2007 as a result of the Corporations Amendment (Insolvency) Act 2007. The ATO and ASIC have issued information sheets relevant to the changes. The IPA has issued a new Code of Professional Practice for Insolvency Professionals.

Recovering super entitlements from failed companies: Information from the ATO about changes applying from 31 December 2007.

ASIC has issued 11 information sheets for directors, employees, creditors or shareholders affected by the three most common company insolvency procedures:

• voluntary administration
• liquidation, and
• receivership.

The Insolvency Practitioners Association (IPA) has issued a Code of Professional Practice for Insolvency Professionals (pdf)

Full post as published by Australian Regulatory Compliance Review on January 13, 2008 (boomark / email).