Insolvency
Insolvency is when a company or person can't pay debts when they are due.
There are several options available to an insolvent company or person:
- the most common corporate insolvency procedures for an insolvent company听补谤别 liquidation, voluntary administration and receivership (see Closing a small business for more information)
- the available personal insolvency procedures for an insolvent person听补谤别 .
ob体育 regulates companies, it does not manage personal insolvency procedures. For more information about bankruptcy and personal insolvency agreements, .
Find out how a corporate insolvency affects you:
More information
Insolvency notices
If you are owed money by an insolvent company or you are a creditor, search our to find out if an external administrator has been appointed over a company.
Insolvency reforms for small business
Insolvency reforms for small business came into effect on 1 January 2021. These reforms followed the聽temporary measures聽introduced in March 2020 in response to the COVID-19 pandemic. These measures only apply to eligible incorporated small businesses with liabilities of less than $1 million.
The reforms include a new:
- debt-restructuring process for incorporated small businesses
- simplified liquidation process for incorporated small businesses
- 鈥榗lass鈥� of registered liquidator.
Corporate insolvency trends in Australia
See insolvency statistics for more information.
Not sure what that insolvency term means?
See Information Sheet 41 (INFO 41) Insolvency: A glossary of terms.