CORPORATE INSOLVENCY

Lipton & Herzberg Understanding Company Law Chapters 22 – 25

Insolvency Law Reform Reports and Papers

Australian Government Proposals Paper: A Modernisation and Harmonisation of the Regulatory Framework Applying to Insolvency Practitioners in Australia December 2011.

CAMAC Report Shareholder Claims against Insolvent Companies: Implications of the Sons of Gwalia Decision (Dec 2008)

CAMAC Report Issues in External Administration (Nov 2008)

CAMAC Report Long-tail Liabilities: the Treatment of Unascertained Future Personal Injury Claims  (May 2008)

Parliamentary Joint Committee Report Corporate Insolvency Laws: A Stocktake (June 2004)

CAMAC Report on Rehabilitating Large and Complex Enterprises in Financial Difficulties (2004)

CASAC Report Corporate Voluntary Administration contained on the CAMAC website reports on the functioning of the voluntary administration regime.

General Insolvency Inquiry (The Harmer Report) 1988 made far-reaching recommendations many of which were adopted in 1992.

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Types of insolvency administrations

      The Corporations Act recognises 3 main types of corporate insolvency administrations (also referred to as external administration) –
      • receivership – discussed in Lipton and Herzberg, Understanding Company Law  chapter 23
      • voluntary administration – discussed in Lipton and Herzberg, Understanding Company Law  chapter 24
      • liquidation – discussed in Lipton and Herzberg, Understanding Company Law chapter 25

Lipton and Herzberg, Understanding Company Law chapter 22 provides an overview of the various types of insolvency administrations.

ASIC provides three information sheets for creditors that give an overview of the insolvency administrations.

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