There are several options available to an insolvent company or person:
- the most common corporate insolvency procedures for an insolvent company are liquidation, voluntary administration and receivership
- the available personal insolvency procedures for an insolvent person arebankruptcy and personal insolvency agreements.
ASIC regulates companies, it does not manage personal insolvency procedures
https://asic.gov.au/regulatory-resources/insolvency/
DYOR
There are several options available to an insolvent company or...
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